Brazil offers to buy dollars in spot forex market
SAO PAULO, June 9 |
SAO PAULO, June 9 (Reuters) - Brazil's central bank offered to buy U.S. dollars in the spot foreign exchange market on Tuesday, seeking to soak up a flood of greenbacks flowing into the country.
Brazil's currency, the real BRBY, was trading 1.6 percent stronger at 1.935 per U.S. dollar shortly after the central bank announcement.
On May 8, the central bank bought dollars for the first time in eight months as the currency moved close to the key level of 2 reais per dollar. The bank has bought dollars every session since then, with almost $3 billion in purchases the past month in the spot market. (Reporting by Jose de Castro; Writing by Elzio Barreto; Editing by James Dalgleish)
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