Brazilian Real Gains as Stocks Rebound

After posting the sharpest fall in 8 months in the beginning of this week, Brazilian stocks rebounded this Tuesday, providing support for the real to gain versus most of the 16 main traded currencies in foreign-exchange markets.

Increased demand for commodities and a rebound in Brazilian stocks provided support for the real to erase some of the losses it posted in the beginning of this week, as traders were confident to reinvest money in Brazilian assets, helping BOVESPA, the biggest national stock exchange market, to rebound this Tuesday.

USD/BRL traded at 1.7505 as of 00:28 GMT from an opening rate of 1.7660.

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