February 13, 2020 / 1:30 PM / 11 days ago

Brazil currency reverses losses on central bank intervention

SAO PAULO/BRASILIA, Feb 13 (Reuters) - Brazil’s currency, the real, rebounded from a record low on Thursday after the central bank announced a new intervention, selling dollars in the futures market after the exchange rate slipped 8% this year.

The real weakened as far as 4.38 per U.S. dollar on Thursday before the central bank’s announcement, which swiftly erased its losses in the session. Earlier in the day, President Jair Bolsonaro said he thought the dollar was “a little high” against the local currency. (Reporting by Luana Maria Benedito and Jamie McGeever Editing by Brad Haynes)

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