Brazilian Central Bank sells $465 mn

The Brazilian Central Bank sold another $465 million on Monday, after earlier placing $3 billion spot in just one auction, in the face of extreme volatility in the markets because of oil and coronavirus. The sales in the spot market mark a change in the intervention strategy of the monetary authority, which until then had only been offering traditional foreign exchange swap contracts – which inject dollars into the future market. Last week, the Central Bank sold $ 5 billion of these assets.

Source: Reuters