Brazil's Real Climbs on Speculation Meirelles to Replace Levy
- Central Bank offered to auction up to $500 million in lines
- Newspaper reported that Levy could leave in early 2016
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Brazil’s real advanced the most among major currencies after a report that former central bank chief Henrique Meirelles is likely to replace Joaquim Levy as the country’s finance minister.
The real gained 1.4 percent to 3.7478 per dollar Tuesday in Sao Paulo, after losing as much as 0.6 percent. Swap rates on the contract maturing in January 2017, a gauge of expectations on Brazil’s interest-rate moves, rose 0.07 percentage point to 15.52 percent.