Brazilian Real Extends Gains on Stocks

The Brazilian main stock exchange continued to attract investors looking for yield as risk appetite grows globally, attracting investors to emergent countries and pushing the real to a new record high in 2009 versus several major currencies.
Brazilian companies debt and share sales helped a significant amount of foreign capital to be injected in the Brazilian financial market, providing support for the real to extend this week’s rally which already set the real to the highest levels in 2009 versus the British pound and the U.S. dollar.
USD/BRL traded at 1.7105 as of 22:05 GMT from an opening rate of 1.7218.

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