Brazil’s real (R$) set for biggest weekly rise in 2021 as Central Bank steps up intervention

With global market sentiment also positive, the real jumped 2% to close at 5.54 per dollar. The currency is on course for its best week in more than three months.

RIO DE JANEIRO, BRAZIL - Brazil’s real on Thursday, March 11th, rallied 2% against the dollar, boosted by another round of central bank intervention in the swaps market and inflation data that analysts said sets the seal on an interest rate increase next week.

February’s 5.2% annual inflation rate was higher than expected and well above the central bank’s year-end target of 3.75%, cementing expectations it will raise its benchmark Selic lending rate by 50 basis points next week and adding fuel to the real’s rally in recent days.

With global market sentiment also . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?