The Brazilian real is surging after pro-business presidential candidate Aecio Neves earned enough votes in Brazil’s presidential election on Sunday to force a runoff with incumbent Dilma Rousseff.
In early trade on Monday, the real was up 3% against the dollar.
Over the past month, the real has fallen about 9% against the dollar as the Brazilian economy has flagged.
The runoff is set for Oct. 26.
Here’s the early surge in the real as trading opened Monday morning.