Tombini Says Brazil Will Continue With Currency Intervention
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Brazil’s central bank will extend its foreign exchange swap auctions into next year, offering no more than the current limit of $200 million, the bank’s President Alexandre Tombini said.
“In the coming days, the central bank will define the parameters of the daily currency swap auctions that will come into effect on Jan. 1, 2015,” Tombini told members of Congress after Brazil’s currency yesterday fell to a nine-year low. “The parameters could be adjusted: At least 50, at the most 200” million dollars a day, he later told reporters when asked about the program for next year.