Brazilian Real Continues Fall

Brazil’s currency, the real, continued to fall from its four-and-a-half year high as the central bank sold more currency swap contracts yesterday, Monday, and announced it may intervene directly to buy dollars to build up its international reserves. The real fell 0.6% Monday to 2.266 against the US dollar following the central bank announcement. The central bank sold 7,600 currency swap contracts worth $365.3 million of dollar-linked debt.