Business

Why is Brazilian Central Bank selling dollars after ten years?

Why is Brazilian Central Bank selling dollars after ten years?

One of the biggest boasts of Brazil’s Central Bank in recent years is its vast international reserves. That’s why it came as a surprise when economist Roberto Campos Neto, head of the Central Bank, announced the sale of U.S. Dollars on the spot currency market for the first time since the 2009 crisis. The move comes as an attempt to avoid major losses for Brazil’s currency, but there is some doubt over whether this indicates a change in the way the country will deal with its international reserves, or if it is just a way to calm markets down. 

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