Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Brazil unveils plan to defend currency

Bursa Community :: Community News

Go down

Brazil unveils plan to defend currency Empty Brazil unveils plan to defend currency

Post by Cals Sat 24 Aug 2013, 23:03

Published: Saturday August 24, 2013 MYT 12:00:00 AM
Updated: Saturday August 24, 2013 MYT 9:53:28 AM
Brazil unveils plan to defend currency

RIO DE JANEIRO: The Bank of Brazil said it is ready to intervene heavily on currency markets, making available US$55bil to prop up the sagging real.

The central bank said it would engage in so-called swap operations where it would offer dollars in the futures market, with a pledge to buy them back in a determined timeframe no matter what they were worth.

A bank statement said that from Monday to Thursday the bank would offer US$500mil a day, and US$1bil on Fridays. — AFP
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum