NEW YORK (TheStreet) -- Shares of Banco Bradesco (BBD) - Get Report are higher by 0.32% to $4.74% in early afternoon trading on Tuesday, as the Brazilian real rises giving some U.S. traded Brazil-based stocks a boost today.
Banco Bradesco is a commercial bank based in Sao Paulo that offers clients in Brazil and abroad a range of banking and financial services.
The real gained by 0.2% to 4.0017 per dollar this afternoon in Sao Paulo, Bloomberg reports. The rally stems from a rise in emerging market currencies, which spiked on the possibility of more economic stimulus from China, Brazil's largest trading partner.
However, the rise in the real may not last long as Brazil's new finance minister, Nelson Barbosa, is scheduled to speak with foreign journalists in an attempt to convince investors the government will not take on a loose financial policy, Bloomberg added.
On Monday, Barbosa ended a conference call with investors without providing specific details about bringing down the deficit. The real slipped as a result.