With little data to disrupt currency exchange markets today, investors took advantage of the gains the Brazilian real has made this week and took profits at the opening of Friday's session. The Brazilian real gained 0.5% on the US dollar yesterday as consumer prices rose in July, and has also benefitted from the recent rally in equity markets.
Brazil, along with Russia, India and China is expected to be one of the key drivers of global recovery. This week the Brazilian central bank dropped interest rates by 0.5% to a record low of 8.75%.
Currency exchange rates for the Brazilian real are currently at GBP0.3210 and USD0.5277.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.