Brazil steps up efforts to ease real gains

centralbank-brazil

The Central Bank of Brazil on Thursday introduced a series of measures to curb the real's appreciation against the dollar.

The central bank said the measures, which will come into effect on 4 April, will require financial institutions with short positions in dollars to hold a deposit equal to the smaller of either 60% of a short position of $3 billion or a bank's reference capital. A bank's reference capital refers to how much capital a bank must hold in order to comply with Brazil's interpretat

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