• Most Popular
  • Most Shared

Brazil's central bank calls auction to buy dollars

Fri Nov 6, 2009 9:52am EST

Stocks

   

SAO PAULO, Nov 6 (Reuters) - Brazil's central bank offered to buy dollars on the spot foreign exchange market on Friday in an ongoing effort to boost international reserves and soak up greenbacks pouring into the economy.

Currencies  |  Global Markets  |  Brazil

The bank has bought about $21 billion on the spot market since May 8, including about $6.7 billion in October, to soak up dollar liquidity and prevent further appreciation of Brazil's currency, the real.

Brazil's currency (BRBY) was trading 0.12 percent stronger at 1.72 per U.S. dollar shortly after the central bank's announcement. (Reporting by Silvio Cascione; Writing by Elzio Barreto, editing by W Simon )

Currencies
Global Markets
Brazil


More from Reuters

This heart-wrenching picture of a mother and child at an an emergency feeding centre in in Tahoua, Niger, won international acclaim for incorporating beauty, horror and despair. Taken on August 1, 2005 by Finbarr O'Reilly.

Pictures of the Decade

    Pictures
    A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
    OUTLOOK 2010:

    Be careful what you wish for

    Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

    Global Markets
    Aurora, a 20-year-old Beluga whale, swims with her newborn calf after giving birth at the Vancouver Aquarium in Vancouver, British Columbia June 7, 2009. REUTERS/Andy Clark

    365 days for the doomed

    From polar bears to emperor penguins, endangered species will get top online billing in 2010 during the Year of Biodiversity.  Full Article 

    Green Business