For the first time in almost three months, the Central Bank (BC) will intervene in the exchange rate to hold back the rise of the dollar. This Wednesday (13), the monetary authority will auction up to US$4 billion of international reserves with a repurchase commitment, when the money is bought back into reserves months later.
According to a statement issued early in the evening by the BC, the monetary authority will hold two auctions worth up to US$2 billion during the morning. Buyback operations will take place on April 2, 2025 for money sold in the first auction and on July 2, 2025 for money sold in the second auction.
The last time the BC intervened in the foreign exchange market was on August 30, when it sold US$1.5 billion of international reserves. At the time, the auction took place through a cash sale, with no commitment to repurchase the money later.
The last time the BC promoted line auctions, as sales with repurchase commitments are called, was on January 20, 2023. US$ 2 billion repurchased were sold in May and June of the same year.
Despite the instability of recent days, the US currency closed stable this Tuesday (12). The commercial dollar ended the day selling at R$5.77, up just 0.01%. At the day’s high, around 2:50 p.m., the currency reached R$5.79.
