Wednesday, May 9, 2007

Brazil Real Approaches Six-Year High as Nation's Stock Index Sets Record

(Bloomberg) -- Brazil's real approached a six-year high on bets foreigners will purchase local assets. The nation's benchmark stock index rose to a record.

``The attractiveness of local assets will continue to bring dollars to the market, and high commodity prices abroad mean our trade surplus will also add fuel to the real's rally,'' said Octavio de Barros, chief economist at Banco Bradesco SA, Brazil's second-largest bank, in an interview in Sao Paulo.


Read more at Bloomberg Currencies News

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