Brazil’s Real Jumps 1% on Wednesday: 7% Gain in November

RIO DE JANEIRO, BRAZIL – Brazil’s real jumped again on Wednesday, November 25th, outperforming its Latin American peers on improving economic data and continued optimism over COVID-19 vaccines and U.S.politics.

Brazil’s real firmed for a second session, rising over 1% after figures showed the country’s current account deficit narrowed to its smallest in 2-1/2 years in October, helped by a bigger-than-expected surplus in goods trade.

Worries about Brazil’s fiscal health, record-low interestrates and a second wave of coronavirus cases have hammered thereal this year, but a brighter global mood has boosted the currency by more than 7% in November.

Brazilian Stocks on the Rise

A Reuters poll showed Brazilian stocks will reach pre-pandemic levels by the middle of next year, but concernabout the impact of a resurgent pandemic could limit the
recovery.

The index is predicted to close this year at 108,000 points. It was last trading at 109,517.

Source: Reuters

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