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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Brazil may boost foreign currency reserves to $300 bln

Posted on 24 June 2009

From Dow Jones: The Brazilian government is studying a possible increase in its foreign currency reserves to $300 billion by next year, local newspaper Folha de Sao Paulo reported Tuesday.

According to the report, citing an unnamed source at the Finance Ministry, the government may accelerate the purchase of dollars on the foreign exchange market, thus supporting the U.S. dollar and building reserves at the same time…….Full Article (Subscription Required): Source


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