Brazilian Real Extends Best Month Since 2003 Amid Rate Fixing

Brazil’s real extended its best monthly gain since 2003 in a volatile day as traders speculated that banks are buying dollars in an attempt to control the central bank rate used in settling some financial contracts.

The currency gained 0.6 percent to 3.2007 per dollar at 12:36 p.m. in Sao Paulo, extending its advance this month to 12.8 percent. It dropped as much as 0.8 percent earlier Thursday.

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