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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Brazil foreign reserves off $3.7 bln, first drop since April 2009

Posted on 05 October 2011

Brazil’s foreign-currency reserves fell $3.7 billion in September from the previous month, the first monthly drop since April of 2009, as the central bank halted daily purchases of dollars in the foreign- exchange market, the central bank said Tuesday.
Foreign reserves totaled $349.7 billion in September, down from $353.4 billion at the end of August, according to figures published on the central bank’s website. It was the first monthly drop in foreign reserves since April 2009, when the nation saw a decline of $1.2 billion in reserves……………………………………….Full Article: Source


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