LatinNews Daily - 31 August 2018

* Brazil’s central bank (BCB) has announced that it will intervene in the local currency market to contain the depreciation of the Real against the US dollar. The BCB has announced a US$1.5bn currency swap to “provide liquidity and guarantee the smooth functioning of the exchange market”. The Real depreciated 0.63% against the US dollar yesterday, closing the day at R$4.145/US$1 after trading at R$4.21/US$1 at its lowest level that day. The Real’s value has fallen as the US dollar has been appreciating against emerging market currencies, and it is further affected by the uncertainty that surrounds the upcoming 7 October general election.  

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