US Markets

Brazil's real rises around 1% following central bank FX move

Credit: REUTERS/PILAR OLIVARES

Brazil's real rose as much as 1% in early trading on Thursday, after the central bank announced the previous evening that it will sell dollars outright in the spot currency market this month for the first time since 2009 in response to rising demand for liquidity.

BRASILIA, Aug 15 (Reuters) - Brazil's real rose as much as 1% in early trading on Thursday BRBY, after the central bank announced the previous evening that it will sell dollars outright in the spot currency market this month for the first time since 2009 in response to rising demand for liquidity.

The dollar fell as low as 4.0116 reais in early trading on Thursday, having traded above 4.05 reais on Wednesday, its highest level since May. At 09:15 local time, the dollar had edged back up above 4.02 reais.

(Reporting by Jamie McGeever Editing by Chizu Nomiyama)

((jamie.mcgeever@thomsonreuters.com; +55 (0)61 3426 7015; Reuters Messaging: jamie.mcgeever.reuters.com@reuters.net))

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