Tuesday, June 25, 2013

Reuters: US Dollar Report: Brazil central bank scraps reserve requirement to support currency

Reuters: US Dollar Report
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Brazil central bank scraps reserve requirement to support currency
Jun 25th 2013, 22:16

SAO PAULO, June 25 | Tue Jun 25, 2013 6:16pm EDT

SAO PAULO, June 25 (Reuters) - Brazil's central bank said on Tuesday it would eliminate reserve requirements on banks' short-dollar positions beginning July 1, a measure supporting the local currency after it slid to a four-year low this month.

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