(Updates to close) By Bruno Federowski SAO PAULO, Dec 5 (Reuters) - The Brazilian real strengthened on Monday on traders' relief that weekend demonstrations refrained from directly targeting President Michel Temer, after the currency hit its lowest level since June last week.
Demonstrators protested across Brazil on Sunday to denounce corruption and a congressional vote seen as an attempt to curtail sweeping graft investigations.
Some investors had feared the protests would take aim at Temer, whose approval ratings remain near record lows, potentially hampering his administration's efforts to gather lawmaker support for austerity measures.
"Protesters can demonstrate against Congress. As long as they don't demonstrate against the government, the market will remain calm," said Thiago Castellan, a trader with Renascença brokerage.
The Brazilian real strengthened 1.2 percent, closing at 3.42 per greenback. It had lost 1.7 percent last week.
Other Latin American currencies also gained. The Colombian peso rose 1.52 percent on higher crude prices, and the Mexican peso strengthening 0.19 as investors followed the results of a historic deep water oil and gas auction.
Brazilian stocks seesawed as a drop in financial shares helped offset a two-day rally in shares of Braskem SA, Latin America's largest petrochemical company.
The stock reached a record high on Monday after the company said on Friday it was in advanced talks with authorities in Brazil and the United States for a leniency agreement related to a massive corruption scandal.
Key Latin American stock indexes and currencies at 22:17 GMT: Stock daily % YTD % indexes change change Latest MSCI 853.97 0.11 7.53 Emerging Markets MSCI LatAm 2255.51 0.32 23.26 Brazil 59831.73 -0.8 38.02 Bovespa Mexico IPC 44937.30 0.86 4.56 Chile IPSA 4206.44 0.08 14.30 Chile IGPA 21002.45 0.05 15.71 Argentina 16999.02 0.3 45.60 MerVal Colombia 9776.86 0.53 14.38 IGBC Venezuela 36755.96 -4.49 151.96 IBC (Reporting by Bruno Federowski; Editing by Leslie Adler)