Brazil's central bank pays to keep money at home

BRAZIL - Brazil's central bank, seeking to stem an outflow of money from the country, offered banks the ability to swap local currency interest rates for dollar-linked yields.

Banks exchanged $1.1 billion of contracts that mature in January 2003 and January 2005 for the dollar-indexed payments coming due in July 2003, the central bank said. Debt holders offered the government more than three times that amount. By locking in the fixed rates for next year in contracts that can't be traded on Brazil

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.