Brazil's real weakens 1 pct in spot-market trading

SAO PAULO, March 13 Tue Mar 13, 2012 1:13pm GMT

SAO PAULO, March 13 (Reuters) - The Brazilian real weakened 1 percent against the U.S. dollar on Tuesday, a day after the government extended the reach of a 6 percent tax, known as the IOF, to overseas loans with maturities of up to five years.

At 10:07 a.m. (1307 GMT) the real lost 1 percent to a bid price of 1.8216 to the U.S. dollar.