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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Brazil won’t pay ‘price’ for imbalances in other economies, Meirelles says

Posted on 11 October 2010

From Bloomberg: Brazil increased its foreign reserves by 16.4 percent this year, to $279 billion on Oct. 7, according to central bank data. The government has vowed to use its sovereign wealth fund to buy dollars in the spot market, if needed.
Brazil also doubled to 4 percent a tax it charges foreigners on investment in fixed- income securities in a bid to stem gains in the real, which last week reached its strongest in more than two years…………………………………….Full Article: Source


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