Brazil’s Real Closes at R$3.13 to Dollar in 13-Month High

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The recent appetite for riskier assets throughout the world has led the Brazilian real to its highest level against the U.S. dollar in more than thirteen months, closing on Wednesday at R$3.1296/US$1 according to Brazil’s Central Bank. The Brazilian currency, however, is unlikely to appreciate much further say analysts.

“Given the extent of its rally over the past couple of months it’s difficult to make the case that the Brazilian real will now strengthen much further from here,” stated Neil Shearing, Chief Emerging . . .

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