Brazil’s Central Bank Intervenes Twice in One Week to Support Weakening Real

Investor concerns over the fiscal outlook, coupled with the central bank's pledge to keep official interest rates at their record low, have weighed heavily on the currency, which has lost 40% against the dollar in 2020.

RIO DE JANEIRO, BRAZIL - Brazil's central bank agained intervened in the foreign exchange market on Friday, October 30th, selling dollars to ease heavy downward pressure on the real that had pushed the local currency closer to its all-time low against the dollar struck earlier this year.

The central bank sold US$787 million (R$4.48 billion) in the spot market as the greenback topped 5.80 reais for the first time since May, closing in on its all-time high just under 6.00 reais that month. This follows the sale of US$ 1 billion in the . . .

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