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Brazilian Real Rises for Third Day

June 30, 2016 at 19:03 by Vladimir Vyun

100 and 50 Brazilian real notesThe Brazilian real rallied for the third consecutive session today, though the rally caused concerns among traders about potential intervention from the nation’s central bank.

The real has gained about 6% since the Monday’s close. Intraday, the currency jumped above 3.2 per dollar for the first time in almost a year. Market analysts speculated that the strong rally may prompt the Central Bank of Brazil to curb the excessive appreciation.

USD/BRL went down 0.43% to 3.2069 as of 18:58 GMT today.

If you have any questions, comments or opinions regarding the Brazilian Real, feel free to post them using the commentary form below.

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