Brazil's real firms after central bank steps up intervention
RIO DE JANEIRO, Sept 24 (Reuters) - The Brazilian real gained modestly on Wednesday as uncertainty about the outcome of the October presidential elections eclipsed the impact of a central bank decision to step up its market intervention to support the currency.
The real gained 0.1 percent in early trade and hovered around the 2.40 per dollar mark. On Tuesday, the currency had weakened past that level for the first time in seven months.
The currency had slid more than 3 percent during five consecutive sessions of losses through Tuesday, when the central bank decided to increase the rollover pace of currency swaps that expire early next month to support the exchange rate.
The real has been weakening as President Dilma Rousseff, who investors accuse of failing to keep inflation at bay and driving the economy into a recession, regains voter support in the latest opinion polls. (Reporting by Walter Brandimarte Editing by W Simon)
© Thomson Reuters 2017 All rights reserved.