World Trade Correspondent, Geneva
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Dec 18, 2012

Brazil ups reserve requirement threshold for dollar short sales

SAO PAULO, Dec 18 (Reuters) – Brazil’s central bank
announced it plans to raise the threshold at which banks must
set aside reserves when short-selling the dollar, a move seen as
aimed at shoring up the country’s currency, the real.

Independent financial institutions will now be allowed to be
short by as much as $3 billion worth of dollars, up from the $1
billion threshold imposed in July, according to a statement
published in the bank’s Sisbacen newswire.
Aug 2, 2012
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    • About Jonathan

      "I write about world trade for Reuters and also lead our Geneva bureau covering international organisations based in Geneva. I spent many years in Eastern Europe, both before the Berlin Wall came down, and after 1989, when I covered the economic transition of the region. I also worked in Moscow from 1994 to 1998, where I set up Reuters domestic service for Russia and the CIS, and ran news operations in the Nordic and Baltic countries from 1998 to 2002 and Southeast Asia from 2002 to 2007."
      Joined Reuters:
      1978
      Languages:
      English, German, French

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