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NEW YORK (TheStreet) -- Itau Unibanco Holding (ITUB) - Get Itaú Unibanco Holding SA Reportstock is falling 0.83% to $7.15 in early afternoon trading on Monday as the Brazilian real slips.

The real is declining on allegations that investment bank Grupo BTG Pactual SA bribed a politician, Bloomberg reports.

The real declined 1.1% to 3.889 per dollar at 4:55 p.m. in Sao Paulo, according to Bloomberg.

"The rising political risk trims the carry positions as it is simply too risky to stay in real-denominated assets right now," Ipek Ozkardeskaya, an analyst at London Capital Group, told Bloomberg.

Based in Sao Paulo, Itau Unibanco offers a variety of financial services to clients.

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