Brazil stops currency swap contracts

Brazil stops currency swap contracts

Chamber Articles Category: Economic News Post Date: 06/21/18 Source: Xinhua By: Xinhua
Article Content

RIO DE JANEIRO, June 19 (Xinhua) -- The Brazilian Central Bank suspended on Tuesday its currency swap contracts after over a month of continuous efforts to boost the real against the U.S. dollar.

The Central Bank had been offering swap contracts since May 11 in a move to bring the value of the U.S. dollar down. The Brazilian currency, the real, registered this year a significant devaluation against the dollar, more than in the entire year of 2017. Read Full Article