By Adriana Brasileiro
Nov. 14 (Bloomberg) -- Brazil's real rose for the first time this week as gains in European and Asian stocks after a U.S. rally stoked appetite for emerging-market assets.
Speculation that the central bank's effort to shore up the currency will add liquidity to local markets also increased confidence in real-denominated assets.
``The good sentiment in Europe and Asia and yesterday's late rebound of U.S. stocks are improving market mood here today,'' said Reginaldo Galhardo, currency trading manager at Treviso Corretora de Cambio in Sao Paulo.
The real rose 0.3 percent to 2.3230 per dollar at 8:15 a.m. New York time, from 2.3305 yesterday. It touched 2.3969 yesterday, the weakest since Oct. 24. Brazil's currency has depreciated 30 percent in the past three months, the worst performance among the 16 major currencies tracked by Bloomberg.
Stocks gained in Europe and Asia. The real pared its gain today as U.S. stock-index futures fell, indicating the Standard & Poor's 500 Index may pare yesterday's 6.9 percent rally.
Brazil's central bank said yesterday it would lend financial institutions $1.3 billion for one month to help those that rely on overseas trade. The bank also bought reais in the foreign-exchange market and placed currency swap contracts to support the real.
The yield on Brazil's overnight futures contract for January 2009 delivery fell 6 basis points, or 0.06 percentage point, to 13.67 percent.
To contact the reporter on this story: Adriana Brasileiro in Rio de Janeiro at abrasileiro@bloomberg.net
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