Economics
Brazil Real Rises on Bernanke’s Outlook; Swap Rates Decline
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Brazil’s real climbed the most among emerging-market currencies after the Mexican peso as Federal Reserve Chairman Ben S. Bernanke damped speculation that the U.S. central bank will curtail stimulus.
The currency appreciated 1.2 percent to 2.2261 per U.S. dollar at close in Sao Paulo. Swap rates on contracts maturing in January 2015 declined nine basis points, or 0.09 percentage point, to 9.36 percent, the lowest level on a closing basis since June 7.