Brazil central bank moves to prop up currency

BRAZIL - Brazil's Central Bank on Monday made it more expensive for banks to hold foreign currency and gold assets in hopes of propping up its own local currency, the real.

The institution raised the ratio of assets to foreign currency that banks must hold, Reuters reported. That means they must increase their assets if they want to maintain their current level of foreign currency exposure, or simply trim their holding in foreign currency.

"The more exposure you have to currency assets under a

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