The bank paid an average 1.7170 reais each for an unspecified amount of dollars in the spot market, the first such purchase since Sept. 13. Policy makers bought dollars in the forwards market on Feb. 3, the first transaction of that type since July. The real fell 0.5 percent to 1.7257 per U.S. dollar after earlier gaining as much as 0.3 percent.
The central bank is stepping up moves to contain the currency’s strength after companies borrowed $14 billion in overseas debt markets this year, fueling speculation that those dollar inflows will extend the real’s rally. Finance Minister Guido Mantega said Jan. 23 that the government will keep implementing policies aimed at preventing currency gains in a bid to ensure economic growth of at least 4 percent this year.
