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Brazil's real ends firmer at 1.815 per dollar

SAO PAULO: Brazil's currency, the real, ended stronger Monday as a favourable outlook for Latin America's largest economy overshadowed concerns over rising US interest rates.

The real finished 0.7 percent firmer at 1.815 per dollar, boosted by dollars that flowed into the country on the back of a calmer market setting, traders said.

"The dollar inflows that began in the morning continued throughout the day," one local trader said.

"Economic indicators are looking brighter this year," said another, underlining the capital inflows. Economists were pointing to more foreign direct investment, positive growth and stable inflation among other things this year.

The Brazilian currency had weakened last week, in line with a crumbling stock market, as investors watched Wall Street shares drop amid concerns over rising US interest rates.

Brazil's Central Bank was forced to intervene, selling dollars to calm investors and help the real turn around from a weak point of 1.850 per dollar reached on Tuesday.

While recovering from last week's losses, the real, at 1.815, was still 33 percent weaker compared to its pre-devaluation level one year ago.-Reuters