Brazil's Real Strengthens, Erasing an Earlier Loss, on Stocks

By Adriana Brasileiro

Sept. 18 (Bloomberg) -- Brazil's real gained, erasing an earlier loss, as European and U.S. stocks increased.

The currency rose 0.7 percent to 1.8769 per dollar at 9:44 a.m. New York time, from 1.8892 yesterday. The real earlier declined as much as 0.8 percent to 1.9040.

The yield on Brazil's zero-coupon bonds due in January 2010 rose 14 basis points, or 0.14 percentage point, to 15.08 percent, according to Banco Votorantim. Yesterday the yield jumped 22 basis points. The yield on the overnight futures contract for January delivery rose 2 basis points to 14.06 percent.

To contact the reporter on this story: Adriana Brasileiro in Rio de Janeiro at abrasileiro@bloomberg.net