External funding to Brazil beginning to normalize: presentation

(Reuters) – Brazil’s Central Bank monetary policy director Bruno Serra said on Thursday that external funding to the country is beginning to normalize, one day after state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) sold $3.25 billion in bonds.

Serra, in a presentation released on Thursday, said central bank intervention on forex worked well and said the goal has always been to assure normal functioning of markets. Serra added that voluntary deposits at the central bank may be used to help monetary policy in the future.

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