Brazil unlikely to keep currency swaps for very long -source

miércoles 18 de marzo de 2015 11:50 GYT
 

BRASILIA, March 18 (Reuters) - The Brazilian central bank has little room to continue with its currency swap program because it is running out of ammunition to counter a weakening real, a senior government official told Reuters on Wednesday.

The weaker real is a key factor supporting the economy, which could very well contract this year as investments dwindle, said the official, who is directly involved in economic policymaking and asked not to be named to speak freely.

"They (at the bank) don't have many options to continue with the swaps policy for very long," said the official. (Reporting by Alonso Soto and Luciana Otoni)