Brazil's Central Bank to Auction $3 Billion to Support Weak Real

Reported 1 day ago

The Central Bank of Brazil has announced an auction of up to $3 billion on December 26 to stabilize the weakening Brazilian real, which fell 1.7% recently amid concerns over the country's debt sustainability. The bank has engaged in daily interventions, spending around $17 billion in just a week as investors grow wary of the government's ability to manage public finances, especially after Congress reduced a significant proposed spending cut.

Source: YAHOO

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