Brazil central bank denies govt buying dollars

Afonso Bevilaqua, economic policy director at Brazil's central bank, denied that the treasury is seeking to stem the rise of the Brazilian real by buying dollars on the spot market, official news agency Agencia Brasil reported.

According to the report Bevilaqua said the purchase of dollars by the treasury is consistent with the official policy of rebuilding reserves in the medium term, and will by no means interfere with the current regime of floating exchange rates.

He noted that the timing for

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