Brazilian Real Recoups From 1-month Low Against US Dollar
August 31 2009 - 9:21AM
RTTF2
The Brazilian real ticked down to a 1-month low of 1.9035 versus
the US dollar at about 8:25 am ET Monday. Thereafter, the real
gained ground against the greenback within 3 hours and hit a high
of 1.8700 as of 11:10 am ET. The pair that closed Friday's North
American session close 1.8800, is now worth 1.8870.
Monday, Brazil's statistical office IBGE said in a report that
the industrial production decreased 9.9% year-on-year in July.
Economists expected a decline of 10.5%.
On a monthly basis, industrial production rose 2.2% in July,
faster than the 1.5% growth expected.
For the January to July period, industrial production fell 12.8%
compared to the same period of the previous year.
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