Brazilian real looks poised to gain
The Brazilian real looks poised to strengthen as the country's rapid economic growth lures foreign investment and a higher demand for commodities boosts the country's exports. This new economic data has caused JPMorgan strategists to boost their 2009 estimates for foreign investment from $20 billion to $26 billion.
Strong foreign investment and a trade surplus projected to be approximately $24 billion have led to a positive outlook for the real, which year to date has gained 23 percent on the dollar in the foreign exchange market, for the remainder of 2009.
The current real exchange rate is USD0.52, GBP0.32, and EUR0.37
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.