Brazil launches $60 bln program to boost real

By Karen Friar

LONDON (MarketWatch) — Brazil’s central bank will begin a $60 billion currency-intervention program on Friday, aimed at supporting the real USDBRL +0.0383% , which recently fell to its lowest level against the U.S. dollar since December 2008. Under the program, announced Thursday, the central bank will offer $3 billion on the spot market and in currency swaps each week until the end of 2013, according to media reports. On Friday, the real slipped 0.2% to $0.4097, according to FactSet.

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