Central Bank of Brazil extends swap auctions
Swap auctions represent less than 30% of the country’s reserves
The Central Bank of Brazil has extended its currency intervention programme for another three months, but at half its previous size.
According to a statement released on December 30, the central bank will offer $100 million in foreign exchange auctions each weekday between now and March 31 at least.
In 2014, the central bank offered $200 million a day, which itself was a reduction from the $500 million offered each day between August and December in 2013.
The programme was initially launched in
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