Brazil’s Real to Strengthen and Hover Above 3

Brazil’s real will strengthen and hover above 3 per U.S. dollar as the political crisis engulfing President Dilma Rousseff eases, according to Development, Industry and Trade Minister Armando Monteiro Neto.

The real gained 0.6 percent to 3.4617 per U.S. dollar at 3:22 p.m. local time, paring its decline this year to 23 percent, the biggest fall among 31 most-traded currencies tracked by Bloomberg.

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