200 reais note – Central Bank/Disclosure
The American Investment Bank JP Morgan revised its recommendation for the Brazilian real to the “overweight” range, or simply “above average”. The change of position takes place just after the dollar win forcing against the Brazilian currency in recent weeks and return to the house of 5 reais. For the bank’s analysts, the recent devaluation of the real made it attractive again. “The real seemed to be one of the busiest businesses in recent weeks. Now, with cleaner and more attractive positions and valuations, in addition to still strong fundamentals, we recommend long positions in reais”, informs the report, which cites the current scenario of high real interest rates in the country and the rise of agricultural commodities as reasons to bet in Brazilian currency. This Friday, the dollar closed up 1.17%, quoted at 5.075 reais. Year-to-date, the exchange rate declines 8.96%.
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