Brazil's currency strengthened on Friday as state-run oil giant Petrobras repatriated some foreign sales, gaining 0.41 percent to close at 2.928 per US dollar.
"We traded $20 million today for Petrobras, which looks like it is bringing in $60 million," a currency trader at a Brazilian bank said.
Despite continued inflation worries and signs that retail prices are rising, the real was supported by expectations of dollar inflows from corporate bond sales overseas. Investors are also expecting Brazil to issue a new sovereign government bond in the coming weeks.
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