RIO DE JANEIRO, March 24 (Reuters) - Brazil’s central bank announced on Tuesday it will not extend its currency intervention program past March 31, but will rollover all swaps expiring after May 1.
A combination of political problems at home and fears of higher U.S. interest rates has caused the real to hover near its lowest levels in a decade.
The program has provided investors with a daily supply of currency swaps, derivatives that offer protection against currency losses, since August 2013.
The bank has recently been offering $100 million worth of currency swaps in daily auctions Mondays through Fridays. (Reporting by Stephen Eisenhammer; Editing by Ken Wills)