NEW YORK (TheStreet) -- Shares of Banco Bradesco (BBD) - Get Report are lower by 1.79% to $7.15 on Thursday morning, even as the Brazilian real rises, which typically drives some U.S. traded Brazil-based stocks into positive territory.
The real is moving higher as Brazil's central bank continued to halt intervention to weaken the currency and as higher commodity prices gave emerging market currencies a boost, Bloomberg reports. The real is up by 0.9% to 3.5164 per dollar this morning.
Banco Bradesco is a Sao Paulo-based multiple service bank that offers clients in Brazil and around the world a variety of financial products and services.
The real has been the best performing currency among its most traded counter parts this year, Bloomberg added. This is due to the rising belief that there will be a change in Brazil's government, including the ousting of President Dilma Rousseff.
Removing Rousseff from office is seen by many as the best way to get Brazil's stalled political environment going again and allow for the passing of measures that will help the economy, Bloomberg added.