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Brazil will not change FX intervention program -source
March 26, 2014 / 7:50 PM / 3 years ago

Brazil will not change FX intervention program -source

SAO PAULO, March 26 (Reuters) - The Brazilian central bank has no target level intended for its local currency and no plans to change its daily forex intervention program, a member of the government’s economic team told Reuters on Wednesday.

An initial partial sale of currency swaps - derivatives that provide hedges against currency losses - raised speculation on Wednesday that Brazilian policymakers could become less aggressive in their currency intervention as the real climbed to four-month highs. (Reporting by Patricia Duarte; Writing by Alonso Soto; Editing by Chris Reese)

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