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Brazil real jumps 1.2 pct on cenbank $60 bln intervention plan
August 23, 2013 / 12:16 PM / in 4 years

Brazil real jumps 1.2 pct on cenbank $60 bln intervention plan

SAO PAULO, Aug 23 (Reuters) - Brazil’s real rallied more than 1 percent early on Friday after the central bank unveiled a currency intervention program that will provide $60 billion worth of cash and insurance to the foreign exchange market by year end.

Interest rate futures opened sharply lower as the outlook for a stronger real over the next few months eased concerns about inflation stemming from more expensive imported goods.

The real traded 1.2 percent stronger at 2.4005 per dollar early on Friday, after gaining to as much as 2.3940 in the first minutes of trading.

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