BRASILIA, March 13 (Reuters) - The Brazilian government will not use its foreign reserves to limit the slide of the real as it does not consider the currency’s sharp sell-off as resulting from a capital flight, a finance ministry source familiar with the matter told Reuters on Friday.
The real weakened as much as 3.7 percent on Friday to 3.28 per dollar, its weakest level since April 2003, amid growing political and popular upheaval stemming from a widening corruption scandal at state-run oil company Petrobras .
The real has weakened 13 percent so far in March, making it the worst performer among the 152 currencies tracked by Reuters.
The finance ministry declined to comment for the story. (Reporting by Luciana Otoni; Writing Alonso Soto; Editing by Chizu Nomiyama)