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Brazil’s Real Closes at R$3.44 to the Dollar but Stocks Drop

By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Yesterday (Wednesday, May 11th) in anticipation of the Brazilian senate's vote to continue with the impeachment process of President Dilma Rousseff, the Brazilian real currency closed stronger to the U.S. dollar. The U.S. currency ended the day at R$3.44/US$1 in sales, down 0.6 percent compared to the last trading session. At the time of writing, the real weakened slightly Thursday (May 12th) morning, trading at R$3.454 to the dollar.

The Ibovespa, the main index of the São Paulo Stock Exchange . . .

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