Brazil’s Real strengthens against dollar

Jeffrey T. Lewis – The Wall Street Journal, 9/24/2015

The Brazilian real strengthened against the dollar on Thursday, the first time in six sessions, after the president of the central bank said he is willing to use the country’s foreign reserves to defend the currency.

The real ended active trading at 4.0438 to the dollar, according to Tullett Prebon via FactSet, after closing at 4.1325 on Wednesday. Trading was volatile during the day, with the real hitting 4.2447 to the dollar in the morning, its weakest level since it was launched in 1994.

The real has been dropping against the dollar in recent days, pulled down by political turmoil and the country’s economic troubles.

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