- Brazil's central bank will today embark a $60B program aimed at supporting the real (BZF), which has dropped 9.1% vs the dollar in this month alone.
- On Monday-Thursday, the bank will sell $500M worth of foreign-exchange swaps every day, while on Friday it will auction $1B of dollar loans.
- The program adds to swap and credit-line actions of $45B that the bank has already announced this year, not that they've done much good. The USD-BRL is up almost 26% since it hit a 2013 low of 1.9419 in March. It's now at 2.4428.
- ETFs - EWZ, BRF, EWZS, BRAF, BRXX, UBR, BZQ, BRAZ, BRAQ, BRZS, BRZU
Brazil launches $60B attempt to boost the real
Aug 23 2013, 04:46 ET