Brazil’s Real Gains With Ibovespa as Temer Vows to Push Reforms
- Currency, Ibovespa advance on optimism over economic recovery
- New government seen as more skillful political negotiaters
Michel Temer on Brazil Economic Reforms
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Brazil’s real and stocks gained, extending the world’s best performances this year, as President Michel Temer reinforced his commitment to reforms aimed at restoring growth and shoring up the budget.
The real rose 0.4 percent to 3.2589 per dollar and the Ibovespa climbed 0.7 percent to 57,736.46 Tuesday in Sao Paulo after Temer, in an interview Monday at Bloomberg’s headquarters in New York, vowed to push ahead with the unpopular measures. He said his intentions not to seek a new mandate in the next presidential election gives him a free hand to act.