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Brazil Bank May Sell Reverse Swaps After Fed Easing, IG Says

Nov. 3 (Bloomberg) -- Brazil’s central bank may buy dollars in futures markets in a bid to avoid an excessive appreciation of the real after the Federal Reserve announced it will buy an additional $600 billion in Treasuries to stimulate the economy, Guilherme Barros, a columnist at IG news services, reported, without saying where he obtained the information.

The central bank may sell so-called reverse swaps or increase the amount of dollars purchased in the spot market to build the country’s reserves, Barros said. The government may also use its sovereign wealth fund to buy dollars in the spot market, Barros said.

A central bank spokesman wasn’t immediately available to comment when called by Bloomberg News.

To contact the reporter on this story: Iuri Dantas in Brasilia at idantas@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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