Brazil central bank intervenes in spot FX for first time in 2021, sells US$1.5 billion

The central bank sold US$920 million in its first intervention, followed by a sale of US$615 million a couple of hours later as the dollar traded above R$5.50.

RIO DE JANEIRO, BRAZIL - Brazil’s central bank intervened in the spot foreign exchange market on Thursday, February 25th, for the first time this year, selling US$1.5 billion in two auctions as the real slumped to its weakest against the US dollar in over four months.

The central bank sold US$920 million in its first intervention, followed by a sale of US$615 million a couple of hours later as the dollar traded above R$5.50.

The US currency traded as high as R$5.5378, a level not seen since early November, according to Refinitiv . . .

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