Brazil Real Gains to BRL2.04 Vs Dollar

SAO PAULO–The Brazilian real climbed Friday, closing stronger than BRL2.04 to the dollar for the first time in a week on speculation European authorities will pour cash into markets to firm up banks at the same time that Brazil rolls back taxes meant to discourage inflows.

The real exited active trading at BRL2.0399 to the dollar, stronger than its previous close at BRL2.0545, according to Tullett Prebon via Factset. The last time it closed stronger than BRL2.04 to the dollar was June 8.

Greek elections are set for Sunday, after a previous election failed to form a ruling government. The …

Article source: http://online.wsj.com/article/SB10001424052702303822204577468882444317426.html?mod=googlenews_wsj

Posted by braziltribune on Jun 16 2012 Filed under Front Page. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry