Brazil's Real Rises Ahead of Congressional Vote on Fiscal Target
- Chances of new target approval have risen, according to Valor
- Central bank stepped up support for currency with auctions
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Brazil’s real rose ahead of a planned vote in congress on the country’s fiscal target and as the central bank stepped up support for the currency.
The real climbed 0.9 percent to 3.6992 per U.S. dollar Tuesday. The government is working to gather support among lawmakers to guarantee approval of a change to this year’s fiscal target and next year’s budget guidelines ahead of a vote that could happen as early as Tuesday, Valor Economico reported. The chances of approval have improved, the newspaper said.