Brazil Central Bank Finally Halts Its Currency’s Plunge – For Now

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It may not have been pretty, nor quick, but Brazil’s central bank finally became the latest emerging-market monetary authority to halt its currency’s depreciation by shoring up markets.

The real rose for the first time in four days, jumping more than 5 percent and leading world gains, after the central bank pledged to flood the market with currency swaps. Investors earlier this week ignored central bank attempts to bolster the currency, sending the real to a two-year low.

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