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U.S. Dollar Closes at Highest Rate in Almost Two Years

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The Brazilian real registered another day of registered heightened volatility on Wednesday, with the U.S. dollar closing at its highest rate in almost two years. After surpassing the R$3.51/US$1 mark in the early afternoon, the exchange rate closed at R$3.486/US$1, up by 0.48 percent.

Economists say the instability is likely to continue due to both international volatility and the uncertainty of the domestic political scenario.

“We are seeing a change of mood in the world,” Roberto Padovani, economist at Banco . . .

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