By David Papadopoulos
Oct. 14 (Bloomberg) -- Brazil's real soared as a U.S. plan to pour $250 billion of capital into banks shored up confidence in the global financial system and spurred demand for higher- yielding assets.
The real climbed 5 percent to 2.0429 per dollar at 8:52 a.m. New York time, following a 7.9 percent surge yesterday. The rally erases last week's 11.6 percent plunge.
To contact the reporter on this story: Adriana Brasileiro in Rio de Janeiro at abrasileiro@bloomberg.net
Tuesday, October 14, 2008
Brazil's Real Soars for Second Day on U.S. Bank Rescue Plan
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