Economics

Brazil Central Bank to Step Into Markets Again to Support Real

Policy makers to sell up to $2 billion in spot auction Tuesday
Bank stepped in to prop up real Monday amid global selloff

1506591481_reais-Brazil — Photographer: Andrew Harrer/Bloomberg

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By Julia Leite

March 9, 2020 at 9:32 PM UTC

This article is for subscribers only.

Brazil’s central bank announced it will sell dollars in the spot market for a second day to support the real amid a rout in global assets.

Policy makers will offer up to $2 billion in a spot auction on Tuesday, according to a statement. They sold about $3.5 billion in two auctions on Monday, the first such intervention this year.