Brazilian Real Gains on Hopes for New Finance Minister

The Brazilian real advanced today on hopes that the former Treasury Secretary Joaquim Levy will become the new finance minister and will help the country to deal with the current economic problems.

There are rumors that President Dilma Rousseff will accept Joaquim as the new finance chief. Previously, the real was falling as the President refrained from announcing a person will take the minister seat. Brazil desperately needs a financial professional to fix its economy as the country’s budget in September reached the biggest deficit in more than a decade.

USD/BRL fell from 2.5391 to 2.5086 as of 14:57 GMT today.

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