Brazil’s foreign reserves hit record high

October 11th, 2009

Brazil’s Central Bank reported Friday that the country’s foreign reserves hit a record high of 231.5 billion U.S. dollars on Thursday.

Brazil’s foreign reserves increased about 5 billion dollars on Thursday alone, said the bank.

The strong rise in the country’s reserves occurred two days after Brazil’s newly opened Santander Bank issued shares and raised up to 8 billion dollars in an initial public offering, the largest IPO from foreign investors in Brazil.

Brazilian Finance Minister Guido Mantega said the Central Bank was “aggressively” purchasing dollars to increase the national reserves.

On Friday, the dollar ended at 1.737 reais, its lowest level in the past 13 months. Analysts predicted the weak dollar globally could lead to a still sharper devaluation of dollar in Brazil.

Source: Xinhua

http://english.people.com.cn

Related Content:

1. Brazil’s Foreign Reserves Reach New Monthly Record In Sept Brazil’s foreign currency reserves reached a new monthly record in...
2. Brazil’s Development Bank Has Loaned Close to US$ 50 Billion This Year, a Record The BNDES, , announced that it disbursed 84.2 billion Brazilian...
3. Brazil plans to authorize foreign currency bank accounts Brazil’s Central Bank plans to authorize the opening of bank...
4. Foreigners Haven’t Bought Brazilian Shares Like That in 62 Years Investment from overseas in shares negotiated in Brazil reached US$...
5. Brazil turns lender to IMF in 10 bln dlr bond buy Brazil on Monday turned lender to the International Monetary Fund...

---

Webdesign web.arto.ch