Brazil central bank chief says higher interest rates, positive fiscal are supporting FX

Brazil's central bank chief, Roberto Campos Neto, said on February 22 that high interest rates are attracting financial inflows that are strengthening the real. He also credited positive fiscal figures and a shift in global flows toward companies that perform well in high-inflation environments.

The benchmark rate stands at 10.75% after an aggressive tightening cycle that started from 2% in March 2021.