Brazil Real Surges on $60 Billion Intervention Plan

Brazil’s real posted its biggest gain in almost two years as the central bank stepped up efforts to stem the world’s worst currency decline, announcing a $60 billion intervention program involving swaps and loans.

The real climbed 3.7 percent to 2.3488 per dollar in Sao Paulo, paring its decline in the past three months to 13 percent, still the biggest among 31 major dollar counterparts tracked by Bloomberg. It’s up 1.9 percent this week, the most since February.