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Brazilian Real Rises on News of Petrobras Bond Offering
Brazil's state-run oil producer is said to be planning an $11 billion bond sale, a record for emerging markets.
Brazil’s real posted the only gain against the dollar among major currencies, as Petroleo Brasileiro SA offered a record $11 billion of bonds.
The real appreciated 0.6 percent to 2.0087 per U.S. dollar at 4:33 p.m. in Sao Paulo, the biggest gain on a closing basis since April 24. Swap rates on the contract due in January 2017 declined three basis points, or 0.03 percentage point, to 8.97 percent today.
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