Brazil Central Bank Buys Dollars

Brazil’s Central Bank has intervened in the market to buy US dollars for reais for the first time since 11 August, pushing the dollar up by 0.89% to R$2.250. The Bank did not confirm the amount bought. Analysts had been expecting the Bank to intervene since the dollar hit its lowest level in nearly five years when it reached R$2.230 last Friday. The Bank confirmed it had bought in three lots and from three financial institutions: Bradesco, BNP and HSBC.