Brazilian Real Strengthens as Bolsonaro Leads Presidential Race

Brazil's real surged by 4.5% against the US dollar on Monday, reaching a key milestone below 5.00 per dollar. The jump came after right-wing Senator Flavio Bolsonaro outperformed expectations in the country's first-round presidential election. He edged out leftist President Luiz Inacio Lula da Silva, setting the stage for a runoff vote on October 25.

The market reaction reflected investor confidence in Bolsonaro's performance, which defied early projections. The real's strengthening signaled optimism about his economic policies, though the final outcome remains uncertain ahead of the runoff.