Brazilian real ‘could grow by another 7 per cent
The Brazilian real could climb another seven per cent against the dollar next month, which could be of interest to those with property in Brazil.
Alberto Boquin, a Latin American debt and currency strategist at Merril Lynch, told Bloomberg that traders believe the demand for the nation’s stock and bonds will increase and push the currency higher.
He said the scope of the real’s gain in recent weeks came as a surprise to some people but positive data from Brazil’s biggest trading partners will bring further benefits to the country.
"You’re getting strong numbers out of China and if you get non-farm payroll numbers in the US that are not horrible, people are going to continue to chase yields and get more optimistic about the world," he told the news provider.
In other news, Brazil’s central bank revealed recently that the nation’s current account deficit fell to $535 million (£323.9 million) in June, which may interest those with property in Brazil.
