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

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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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