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Bloomberg
Brazil’s currency gained for the sixth week in seven, in spite of central bank efforts to limit gains, amid investor optimism that the interim government will win lawmakers’ support for measures to cut the budget deficit and stimulategrowth.
The real was up 0.6 percent this week to 3.2802 per dollar on Friday on speculation the appointment of Rodrigo Maia, an opponent of suspended President Dilma Rousseff, as leader of the lower house may ease the passage of measures to shrink a near-record budget deficit. Maia and Acting President Michel Temer this week called on lawmakers from government-aligned parties to cooperate as they seek approval for changes the government claims are crucial to pulling the country out of its deepest recession in a century. Swap rates on the contract maturing in January 2018, a gauge of expectations for interest rates, rose 0.02 percentage point to 12.69 percent.