Brazil’s real rose as volatility increased to the highest level in almost three weeks amid optimism that Finance Minister Joaquim Levy will stay in his post, offsetting concerns about the outlook for Latin America’s largest economy amid political strife.
The real advanced 0.9 percent to 3.8529 per dollar at 9:40 a.m. in Sao Paulo. The currency is still down 31 percent this year, the most among developing nations, amid concern the government will struggle to ward off credit-rating cuts as the country heads into its longest recession since the 1930s. One-month implied volatility rose to 26.8 percent and was the highest in emerging markets Tuesday.
Brazil Energy Insight 
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