Brazil Real Posts World's Best Gain as Impeachment Draws Closer
- All members of audit court reject president’s 2014 accounts
- Three-month implied volatility on options rises to 21.5%
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Brazil’s real advanced the most among major currencies, rebounding from the world’s biggest loss Wednesday, as a court ruling put President Dilma Rousseff a step closer to facing impeachment over the way the government accounted for its finances last year.
The real advanced 2.7 percent to 3.7853 per dollar, its strongest level in more than four weeks. Three-month implied volatility on options for the real, reflecting projected shifts in the exchange rate, increased to 21.5 percent.