Dollar Retreats Following Brazilian Central Bank Remarks

INSUBCONTINENT EXCLUSIVE:
floating exchange 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
Avallone from Manchester Investments saw the drop as a profit-taking move many had expected.He expressed concerns for the real, pointing to