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. Last Updated: 07/27/2016

Brazil Bolsters Real




RIO DE JANEIRO, Brazil -- The Central Bank said it has stepped in to halt a currency slide for the first time since Brazil's policy of floating the real freely against the dollar was introduced Jan. 18.


The government-controlled bank on Tuesday sold dollars to strengthen the real after its value against the U.S currency passed a psychological mark, slipping from 1.96 to the dollar to 2.06. The real closed at 2.01 to the dollar.


"By intervening, the Central Bank wanted to show that it wouldn't let the real's value get out of control,'' said one S?o Paulo trader, who declined to be identified.