Brazil bank acts to boost Real

BRAZIL - Brazil's central bank said yesterday it would inject $1.5bn (£976m) into the currency market this month to help steady the Real, which has fallen to a record low amid uncertainties ahead of October's presidential elections.

Luiz Fernando Figuereido, director for monetary policy, said the bank would offer $100m a day this week and $50m as of next week until the end of the month.

After the announcement, the Real strengthened 1 per cent to close at R$2.86 against the US dollar.

While

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