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Brazil not signaling FX intervention: source
RIO DE JANEIRO : Brazil 's central bank is not signaling an intention to intervene in the currency spot market with its
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RIO DE JANEIRO: Brazil's central bank is not signaling an intention to intervene in the currency spot market with its decision not to refinance reverse-swap contracts maturing Oct. 1, a source on the government's economic team said on Wednesday.
Flows to the country's spot market are vigorous and the market is functioning well, the source said, adding that the strong link between prices in the spot and futures markets for Brazil's currency, the real, are in part responsible for the currency's recent declines against the US dollar.
Copyright Reuters, 2011
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