NEW YORK (TheStreet) --Shares of Banco Bradesco (BBD) - Get Report are down by 4.08% to $7.53 on Friday morning, as the decline in the real drives some U.S. traded Brazil-based stocks into negative territory today.
The real dipped by 1.1% to 3.5213 per dollar earlier this morning; emerging market currencies are down as investors await a statement from Finance Minister Henrique Meirelles on how he will take on the fiscal deficit, Bloomberg reports.
Banco Bradesco is a Sao Paulo-based multiple service banking company that offers a range of financial products to a variety of clients in Brazil and around the world.
Meirelles previously served as chief of Brazil's central bank and was appointed finance minister yesterday by acting president Michel Temer.
Temer stepped in to Brazil's highest office after the Senate voted to suspend President Dilma Rousseff as she faces an impeachment trial, Bloomberg added.
The real fell yesterday after the central bank stepped in to weaken the currency as the real climbed earlier this year on anticipation Rousseff would be ousted.