The new regime in Brazil, which came to power with ousting of President Dilma Rousseff, who is facing 6 months of impeachment investigation and suspension is acting quick as expected by the market. New government under former vice-President Michel Temer, who is now acting as President was largely expected to be pro-market.

New finance minister under him, Henrique Meirelles has appointed, Ilan Goldfajn, Brazil’s most respected economist as chief of central bank.

Mr Goldfajn, has a doctorate from Massachusetts Institute of Technology (MIT), was central bank’s director of economic policy between 2000 and 2003 and has also worked as a consultant for the World Bank, International Monetary Fund and the United Nations.

With his appointment, Brazilian Real is up around 0.5% today and likely to gain more with good news pouring in.

However, Real is likely to move towards consolidation soon, to watch out for the views of Mr. Goldfajn.

Real is currently trading at 3.48 per Dollar.