Brazil's real led global losses as a weakeningeconomic outlook overshadowed central bank measures to supportthe currency.

The real fell 1.2 percent, to 2.7153 per U.S. dollar, at 5 p.m.in Sao Paulo, the most among 31 major counterparts. Swap rates, agauge of expectations for changes in Brazil's borrowing costs,climbed 0.09 percentage point to 12.84 percent on the contractmaturing in January 2016. The currency posted on Friday a weeklydrop of 3.8 percent, its biggest since September.

While analysts surveyed by the central bank lowered their2015 median economic growth outlook for a fifth straight week, theypredicted that inflation would accelerate further above theofficial target. The real tumbled last week as state-run PetroleoBrasileiro SA, at the center of nation's worst-ever corruptionscandal, was reduced to the lowest level of investment grade byMoody's Investors Service.