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Brazil weakens currency.

Global Banking News-April 15, 2016--Brazil weakens currency

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Global Banking News - 15 April 2016

The Brazil central bank has intervened in the markets to weaken the real that was picking up value.

Reuters said that the real underperformed stronger Latin American currencies after the central bank weakened the currency.

Growing expectations that the lower house would vote on Sunday to impeach the leftist president drove the real to an eight-month high and the central bank acted by stepping up its dollar purchases in domestic futures markets, using instruments known as reverse currency swaps.

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Publication:Global Banking News (GBN)
Date:Apr 15, 2016
Words:121
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