The Brazilian currency proceeded with its previous week gains as optimism in the country’s equities markets rose, as new initial public offerings are likely to attract international capital to the Brazilian economy.
The Brazilian real started the week gaining more than 1 percent versus the greenback and climbing further versus most of the 16 main traded currencies as optimism regarding the wealthiest South American nation rose, considering that more than 5 major Brazilian companies have their status as pending to start a series of IPOs in Bovespa, the Sao Paulo stock exchange market.
USD/BRL traded at 1.8170 as of 20:09 GMT from an opening rate of 1.8315 today.
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