SÃO PAULO — The Brazilian real made modest gains on Wednesday after the country’s central bank said it would significantly increase its interventions on the foreign exchange market.
The move comes after the real plunged to a seven-month low of 2.408 against the U.S. dollar, the first time the currency had broken through the 2.40 mark since 12 February, when it closed at 2.423.
The real strengthened to 2.399 just after 14:00 São Paulo time on Wednesday, after weakening to 2.417 earlier in the day.
[UDPATE: By close of business on 24 September, the real had strengthened further, to 2.383.]
Ben Tavener 