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Brazil’s Central Bank Intervenes in Market after Dollar Hits R$4.27

Brazil’s Central Bank Intervenes in Market after Dollar Hits R$4.27

RIO DE JANEIRO, BRAZIL – With the dollar’s price hitting record highs, the Central Bank announced an extra auction to sell the US currency on spot.

The market reacted to Economy Minister Paulo Guedes’ speech on Monday saying he was not concerned with the dollar exceeding R$4.20 and that “it is good to get used to the higher exchange rate and lower interest rates for some time”.