Brazil’s Real Closes at R$3.23 to Dollar in 11-Month High

Brazilian stock market also rose, by 1.99 percent, while May’s primary deficit was the worst in fifteen years.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Wednesday registered another day of optimism in the Brazilian financial market, with the stock market rising and the U.S. dollar depreciating against the local currency once again. The Brazilian bourse closed up by 1.99 percent, while the US dollar closed at R$3.237/US$1. This is the first time in almost a year the U.S. currency falls below R$3.30/US$1.

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