CORRECTED-EMERGING MARKETS-Brazil's real hovers near all-time low

lunes 21 de septiembre de 2015 11:10 GYT

(Corrects introduction of real to 1994 from 1993)
    SAO PAULO, Sept 21 (Reuters) - Brazil's currency approached
its weakest level ever on Monday as an increasingly complicated
economic and political outlook continued to rattle investors.
    Other Latin American currencies posted modest losses, while
the region's stock markets were little changed.
    The Brazilian real  sank as low as 3.985 per
U.S. dollar in early trading, its weakest intraday level since
October 2002. The real's all-time record intraday low is 4.014
per dollar, touched earlier that month. 
    Four per dollar is a major psychological threshold for
Brazil's currency. Since its introduction in 1994, the real has
never closed at or beyond that level.
    Part of the currency's decline on Monday was driven by a
worsening outlook for Brazil's recession-battered economy. A
weekly central bank poll released before the market open showed
economists expect a deeper recession than originally forecast,
coupled with higher inflation. 
    Brazil lost its investment-grade credit rating from Standard
& Poor's this month and investors are watching for signs that
political gridlock will ease enough to allow critical spending
cuts and tax increases to pass.
    The central bank, which has been attempting to support the
real through market intervention, said it would sell as much as
$3 billion on the currency spot market with repurchase
agreements at two auctions on Monday.
    "The central bank intervention helps, but it doesn't make
miracles happen," said Reginaldo Siaca, head of currency trading
at brokerage TOV in Sao Paulo, who expects the real to surpass
four per dollar "in the very short term."
    Key Latin American stock indexes and currencies at 1446 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        815.73     -1.7   -13.22
 MSCI LatAm                  1985.39    -1.26   -26.28
 Brazil Bovespa             47358.09      0.2    -5.30
 Mexico IPC                 43634.24     0.16     1.13
 Chile IPSA                  3811.27     0.38    -1.03
 Chile IGPA                 18610.03     0.39    -1.38
 Argentina MerVal          10558.109     0.02    23.07
 Colombia IGBC               9569.98    -0.18   -17.75
 Venezuela IBC              13263.35        0   243.72
 Currencies                           daily %    YTD %
                                       change   change
 Brazil real                  3.9822    -0.62   -33.27
 Mexico peso                 16.6682    -0.05   -11.54
 Chile peso                    682.4    -0.53   -11.14
 Colombia peso                  2991    -0.23   -20.16
 Peru sol                     3.1901     0.00    -6.62
 Argentina peso               9.3825    -0.03    -8.87
 Argentina peso                15.81     0.63   -11.45
 (Reporting by Asher Levine and Bruno Federowski; Editing by
James Dalgleish)