Brazil’s real rose the most in emerging markets on speculation the central bank will help prevent it from falling further after last week’s decline.
The real appreciated 0.7 percent to 2.3715 per U.S. dollar at 9:52 a.m. in Sao Paulo, the most among 24 developing-nation counterparts tracked by Bloomberg. Swap rates on contracts maturing in January 2017 fell five basis points, or 0.05 percentage point, to 12.30 percent.
The currency tumbled 2.4 percent last week as the U.S. Federal Reserve said it would reduce monthly asset purchases that kept Treasury yields low and buoyed demand for emerging-market assets. The dollar fell today against most major currencies as investors exited from bets on further increases before year-end.
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