September 27, 2019 / 12:20 PM / 24 days ago

Brazil's central bank to use most efficient FX intervention tools -director

BRASILIA, Sept 27 (Reuters) - Brazil’s central bank will use the most efficient tools at its disposal whenever it intervenes in the foreign exchange market, the bank’s director of monetary policy Bruno Serra Fernandes said on Friday.

Echoing remarks the previous day from president Roberto Campos Neto, he said the central bank will use “most efficient instruments at any given moment”, adding that FX swaps remain an important tool when the currency is not fully convertible, according to a presentation published on the bank’s website.

Reporting by Jamie McGeever; Editing by Catherine Evans

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