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.