Brazil Central Bank Vows More Currency Intervention If Needed
- Campos Neto said bank acted because market was dysfunctional
- Bank sold dollars on spot market twice; real hit all-time low
Roberto Campos Neto
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Brazilian policy makers will intervene further if they need to normalize the foreign exchange market, central bank chief Roberto Campos Neto said.
The monetary authority sold dollars on the spot market twice on Tuesday as the real weakened to an all-time low following comments from Economy Minister Paulo Guedes that a weaker currency isn’t a problem.