RIO DE JANEIRO Nov 22 The Brazilian real gained
about a quarter percentage point on Thursday after central bank
chief Alexandre Tombini said policymakers stand ready to
intervene in the foreign exchange market.
Tombini told lawmakers in Brasilia that the central bank may
"provide liquidity" to the foreign exchange market at the end of
the year, a period when dollars are traditionally more scarce in
The real gained 0.27 pct to 2.0885 per dollar.
It had closed Wednesday at 2.0944, its weakest level in
three-and-a-half years and near the ceiling of a tight trading
range of 2.0-2.1 per dollar where it has been stuck since early
In the past several months, the central bank has resorted to
a series of traditional and reverse currency swap auctions --
which emulate, respectively, the sale and the purchase of
dollars in the futures market -- to keep the currency within