After almost three weeks without acting on the exchange rate, the Central Bank (BC) announced, in the early evening of this Friday (17), the first exchange rate intervention in 2025. Next Monday (20), the monetary authority will sell up to US$ 2 billion of international reserves in online auctions, when it commits to repurchasing the money in a few months.
Two auctions worth up to US$1 billion each are planned. Money from the first auction will return to international reserves on November 4; and the second auction, on December 2nd.
The BC’s last intervention in the exchange rate had taken place on December 30, when the monetary authority sold US$1.815 billion of international reserves in cash. In this modality, the sale is final, and the money does not return to reserves.
The last line auction (with repurchase commitment) was held on December 20, when the monetary authority sold US$2 billion. In December, the BC sold US$32.59 billion of foreign reserves, the largest monthly volume of foreign exchange interventions since the creation of the inflation targeting regime in 1999.
This Friday, the commercial dollar ended the day selling at R$6.066, up R$0.012 (+0.2%). The price fluctuated a lot during the day, reaching R$6.08 around 11am and falling to R$6.03 around 1pm, before rising during the afternoon and closing slightly higher.
