Brazilian Real Rises Against U.S. Dollar
January 18 2016 - 1:23AM
RTTF2
The Brazilian real advanced against the U.S. dollar in European
deals on Monday, as investors took some comfort from a stable yuan,
after the People's Bank of China announced new measures to curb
offshore speculation in the currency.
The Chinese central bank announced that it will raise the
reserve requirement ratio on yuan deposits of offshore banks from
January 25, to contain the downward pressure on yuan and manage
cross border fund flows.
The Brazilian real reached as high as 4.0153 per dollar,
compared to 4.0535 hit late New York Friday. The next resistance
level for the Brazilian currency may be located around the 3.8
zone.
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