Brazilian central bank will sell dollars outright for first time since 2009


The Brazilian central bank announced on August 14 it will be selling US dollars outright this month for the first time in a decade.

The move is a change from its usual currency market operations and is in response to increased demand for liquidity in the spot foreign exchange market, says the Central Bank of Brazil in a statement.

The action is also responding to the reduction in demand for foreign exchange hedging through foreign exchange swaps, it says.

The dollar sales will be implemented

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