Brazil to handle exchange interventions online

BRAZIL - Brazil's central bank will transfer intervention operations in the currency exchange market to an online system, Central Bank Monetary Policy Directory Luiz Fernando Figueiredo said late Wednesday.

The changeover to the electronic system, known as Sisbex, will take place within 60 days.

Figueiredo said the new system would make central bank operations more transparent for the market.

Currently, currency interventions are handled with the central bank's 25 primary dealers over the phone.

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