The bloodbath in Argentina and Turkey is evident in Brazil also where Bloomberg reports that the central bank just intervened for the first time since June 22.
BCB reportedly intervened at 4.20 “to provide liquidity” adding that intervention intensity and frequency will depend on the market. The BCB also attempted to provide some confidence by reaffirming that monetary policy is not directly linked to recent market shocks.
For now, the Real has stabilized.
Additionally, BCB will also offer an additional 30,000 FX swap contracts in auction today from 1:20pm to 1:30pm, according to a statement. Results to be announced at 1:40pm.