INSUBCONTINENT EXCLUSIVE:
rate, and the Central Bank intervenes only in major market disruptions.His response countered rumors of possible market interventions, such
as auctions or swaps, which he dismissed.Dollar Retreats Following Brazilian Central Bank Remarks
(Photo Internet reproduction)The dollar had approached a low of R$5.22 before jumping to R$5.27, only to close the day lower.Campos Neto
clarified that the Central Bank does not respond to changes in market risk premiums.This stance aims to prevent unnecessary market
distortions and maintain financial stability.Financial results reflected this, with the spot commercial dollar closing down 0.50% at
R$5.243.The tourist dollar also declined by 0.56%, landing at R$5.449
Meanwhile, futures on the dollar showed a decrease of 0.84%, closing at 5,250 points.The Brazilian Central Bank conducted an auction of up
to 12,000 currency swap contracts to manage maturities due on July 1, 2024.U.S
decline only slightly offset.Currency expert Thiago Avallone from Manchester Investments saw the drop as a profit-taking move many had
overspending impacting financial goals.
