Brazil’s Real Strengthens

The Brazilian real rose to a five-week high Wednesday on expectations that record exports will sustain the fastest economic expansion in a decade and boost demand for the local currency. The real ended the day at 2.60 to the dollar. The currency has gained 4.7 percent since Finance Minister Antonio Palocci on March 28 raised his 2005 export forecast to $112 billion, 17 percent above last year’s record.