Why has the value of the Brazilian Real sharply decreased against the U.S. dollar?

Question

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The Answer is The Brazilian Real fell sharply against the U.S. dollar due to skepticism that Brazilian President Dilma Rousseff would be able to fix the country's budget and avoid more credit-rating cuts. The Real fell to 4.06665, the weakest intraday level since its creation. Standard & Poor downgraded the nation to junk bond status and the currency has led emerging-market currency declines. The Real continues to decline due to political instability and government corruption related to its state-owned oil company.

Why Has the Value of the Brazilian Real Sharply Decreased