March 4, 2020 / 5:53 PM / in a month

Brazil central bank to intervene in FX swaps market on Thursday

BRASILIA, March 4 (Reuters) - Brazil’s central bank on Thursday will auction up to $1 billion foreign exchange swaps contracts, it said on Wednesday, the latest FX market intervention in the face of the real’s 12% slide this year to a series of record lows against the dollar.

Thursday’s sale will be the central bank’s sixth intervention in the swaps market in recent weeks, as a wave of downward revisions to this year’s economic growth and interest rate outlook has pushed the real as low as 4.56 per dollar. (Reporting by Jamie McGeever)

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