Brazil central bank spends $1bn to support real

Local currency has declined more than 10% against the dollar since June

Central Bank of Brazil

The Central Bank of Brazil (BCB) spent $1 billion on swap contracts to halt a depreciation of the real on October 13.

Brazilian media conglomerate Globo reported that the central bank had sold up to 20,000 future swap contracts. Globo also said the BCB last made a major unexpected sale of dollars on September 30, and that this was only half as large.

MercoPress, a Brazilian news agency, reported that the BCB would sell another $1 billion on October 14.

The central bank announced on September

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