NEW YORK (TheStreet) --Shares of Banco Bradesco (BBD) - Get Report are higher by 1.25% to $7.70 on Wednesday afternoon, as some U.S. traded Brazil-based stocks trade in the green due to the rise in the real and as the country's Senate prepares to vote on whether or not Brazil's president should face a full impeachment trial.
Despite the Brazilian central bank stepping in to weaken the currency, the real is up by 0.5% to 3.4595 per dollar this afternoon.
The Senate debate is expected to end with a vote around 7 p.m. local time, Bloomberg reports. Surveys show that the opposition has about 50 votes, which is more than the simple majority in the 81-seat chamber needed to oust President Dilma Rousseff.
Removing President Rousseff from office is a move that many feel would be the best way to start Brazil on the path to financial and political recovery. During Rousseff's time in office the country has been plagued by allegations of corruption and other political scandals.
Rousseff is accused of manipulating the budget to hide just how bad the country's economic issues are and to boost her own re-election prospects, the New York Times reports.
Additionally, Brazil is currently in the midst of its worst recession in over a century.
Speculation of a shift in government has helped the Brazilian real, the currency is up 11% against the dollar so far this year as of Monday.
If Rousseff is suspended and put on trial she would be the second of Brazil's four elected presidents to be removed from office since democracy was re-established in the country in the mid-1980s, the Times added.
Banco Bradesco is a Sao Paulo-based multiple service bank offering clients in Brazil and around the world a variety of financial products and services.