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Montevideo, May 24th 2022 - 02:22 UTC

Tag: Real's collapse

  • Friday, September 25th 2015 - 07:17 UTC

    Brazil's Real recovers ground after Central bank promises to use all 'instruments available'

    “In this process, all instruments are available for the central bank,” Tombini said. “Foreign reserves are an insurance that could and should be used.”

    Brazil's depressed currency rebounded Thursday after the head of its central bank vowed to use all instruments in its arsenal to curtail the Real's collapse. Earlier in the day the Real tumbled to an all-time low of 4.248 to the U.S. dollar, but bounced back to 4.023 after central bank President Alexandre Tombini, in an unscheduled press briefing, did not rule out selling part of the country's $371 billion foreign reserves to calm the exchange rate market.