Brazil real firms on impeachment vote

The Brazilian real firmed as the Senate voted to remove President Dilma Rousseff from office and officials ratio ice President Michel Temer as her successor.

Earlier, the rail gained 0.6 per cent to 3.2214 per US dollar. In 2016 alone, the real has fluctuated more than 20 per cent as Brazil navigates the rocky shoals of rising debt and corruption in the business sector and government.

Investors blame the interventionist policies under Rousseff for Brazil's deepest recession in decades, far from its former glory as a growing world economy.

The economy declined for the sixth straight quarter, but investments grew for the first time since 2013 on hopes of a modest recovery in the future.


Read more at Reuters.