By Laura Matthews
NEW YORK, March 10 (Reuters) - The Singapore Exchange said on Monday that it was teaming up with Brazilian exchange operator B3 to launch real futures contracts later this year, a move aimed at helping investors manage exposure to the currency during Asia trading.
If the Brazilian real futures contracts receive regulatory approval, it would be SGX's first time venturing into emerging markets currencies out of Asia.
The contracts come as global investors' interest in Brazilian markets is increasing, bringing with it a desire to hedge currency risks around-the-clock, especially as trade tensions and geopolitics heighten uncertainty in global markets.
Brazil is a leading exporter of commodities like beef, iron ore and soybeans. Its government said on March 6 that it would remove import taxes on essential products including sugar, coffee, corn and beef to help reduce food prices.
(Reporting by Laura Matthews; Editing by Himani Sarkar)
((Laura.Matthews@thomsonreuters.com; 646-540-2256;))
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