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Dollar drops heavily, closes under R$5.60 after COPOM and Fed minutes

RIO DE JANEIRO, BRAZIL - The Brazilian real was the best performer among major global currencies in the daily session, supported by the prospect of a further opening of interest differentials in favor of the real.

A measure of that yield in a year neared 11.8% per annum on Wednesday (from 2% in January), the highest since the turn of October to November 2016, when the economy's basic interest rate (SELIC) was at 14%. The interest rate is currently at 7.75% but is expected to be raised soon.

The imbroglio in Brasilia over the vote on the Court . . .

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