Brazilian central bank to sell dollars outright for first time since 2009
It remains committed to floating currency regime
The Brazilian central bank announced on August 14 that 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 greater demand for liquidity in the spot foreign exchange market, says the Central Bank of Brazil in a statement. It is also in response to a reduction in demand for foreign exchange hedging through FX swaps.
The dollar sales will be implemented alongside the central bank’s
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