Brazil's Central Bank Faces Inquiry Over Corruption
REGULATORS
BRASILIA--The Brazilian senate last week launched an inquiry into allegations of corruption surrounding the devaluation of the real in January.
The investigation will examine charges that central bank officials accepted bribes from local investment banks and gave them advance warning of the decision to float the currency, according to sources.
In a week of extreme upheaval at the start of the year, the Banco Central do Brasil first attempted a controlled devaluation of the real on Wednesday
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