March 9, 2020 / 1:06 PM / 3 months ago

Brazil central bank to continue FX intervention as long as it takes to calm market -director

BRASILIA, March 9 (Reuters) - Brazil’s central bank will continue intervening in the foreign exchange market as long as it believes it not to be functioning normally, monetary policy director Bruno Serra said on Monday.

Speaking at a Bloomberg News event in Sao Paulo as the real slumped to a new low against the dollar, Serra said the decision to triple the size of Monday’s spot market auction to $3 billion showed the central bank’s intent to use whatever instrument and in whatever size to calm the market. (Reporting by Jamie McGeever; Editing by Alex Richardson)

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