Brazil’s Real Ends Year as Best Performer

The Brazilian real finished 2009 as the best performing currency in foreign-exchange markets among 16 main traded currencies, as stocks had the highest rise in 6 year in the South American nation.
Brazil’s resilience concerning the global crisis, a wide availability of natural resources and an attractive equities market as well as higher than average interest rates helped the Brazilian currency to beat all other majors in foreign-exchange markets this year, and is likely to remain strong in 2010.
USD/BRL closed the year at 1.7400, gaining more than 30 percent versus the greenback in the past 12 months.

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