ETF Trends
ETF Trends

An exchange traded fund following the movement of Brazil’s currency against the U.S. dollar has been rising after a steep pullback in late 2010 due to government intervention.

The $410 million WisdomTree Dreyfus Brazilian Real Fund (NYSEArca: BZF) is up about 7% year to date and more than 20% over the past 12 months, according to Morningstar.

Capital inflows to Brazil have pushed the currency, the real, higher and pressured exports. The Brazilian government has intervened in currency markets and bought dollars in an effort to cool the rise. [Brazilian Currency ETF Higher Despite Curb]

Investors like Brazil’s growth story and the economy is booming. Brazil Central Bank President Alexandre Tombini stated that economy is experiencing sustainable growth, reports Daniel Horch for iMarketNews.

The government recently announced that first quarter GDP expanded 1.3% over the previous quarter and 4.2% year-over-year. [Emerging Market ETFs Could Be On Course For A Turnaround.]

WisdomTree Dreyfus Brazilian Real Fund

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