Brazil continues intervention policy

The Central Bank of Brazil will continue its policy of buying American dollars on the spot market to bolster its foreign exchange reserves.

The real's recent strength gives the central bank an opportunity to buy dollars in the open market at a relatively favourable rate. The Central Bank of Brazil has aggressively bought dollars over the past year to increase reserves and, indirectly, blunt the real's gains.

According to Reuters the central bank has bought more than $33 billion on the spot mar

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