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Brazil real firms 0.3 pct on more dollar inflows

SAO PAULO: The Brazilian real BRBY ended a calm trading session Wednesday 0.3 percent firmer against the dollar as inflows of the US currency continued to surpass outflows, traders said.

The real closed the day at 1.763 to the dollar compared with Tuesday's 1.769.

"The market did not expect a surplus ... but at least it was sufficient to knock the dollar down," one local trader said.

Brazil has few foreign payments on its March schedule, but expects to see a steady stream of incoming funds from foreign capital markets and companies making direct investments.

Traders said the real also gained because large banks appear to be betting on a stable real and have reduced their speculative positions on the futures market. -Reuters