# EMERGING MARKETS-Cenbank forex swap buoys Brazil' real - Costa Alegre Restaurant

> Brazil's central bank began a program of foreign exchange swap auctions to roll over $12.2 billion of maturing swap contracts, and the real rose 0.6% after recovering from two-week lows. In Mexico, inflation at 5.80% in the first half of May strengthened the case for tighter monetary policy.

- Date: 2021-05-24 · published 2021-05-24T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/47314-emerging-markets-cenbank-forex-swap-buoys-brazil-real-costa-alegre-restaurant
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Central bank FX intervention limits real volatility, which supports Brazilian export competitiveness and steadies dollar-priced soy and corn values. The effect on grain prices is small and indirect.

## Read by commodity

- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2017-04-17 | [EMERGING MARKETS-Brazil real jumps on central bank intervention](https://feedsoft.ai/events/71706-emerging-markets-brazil-real-jumps-on-central-bank-intervention.md) | +0.1% | -0.8% |
| USDBRL | 2020-07-24 | [EMERGING MARKETS-Brazil's real hits one-month high, stimulus hopes lift mood](https://feedsoft.ai/events/52313-emerging-markets-brazil-s-real-hits-one-month-high-stimulus-hopes-lift-mood.md) | +0.8% | +9.7% |
| USDBRL | 2023-02-13 | [EMERGING MARKETS-Brazilian real leads Latam FX higher as dollar slips \| Kitco News](https://feedsoft.ai/events/37527-emerging-markets-brazilian-real-leads-latam-fx-higher-as-dollar-slips-kitco-news.md) | -1.4% | -0.3% |
| USDBRL | 2021-01-20 | [Brazil's real rises ahead of c.bank meeting, rest of Latam trails - Markets - Business Recorder](https://feedsoft.ai/events/49388-brazil-s-real-rises-ahead-of-c-bank-meeting-rest-of-latam-trails-markets.md) | +1.5% | +2.0% |
| USDBRL | 2018-07-13 | [Brazil: BRL now seems more aligned with global market moves - Rabobank - Forex Crunch](https://feedsoft.ai/events/64235-brazil-brl-now-seems-more-aligned-with-global-market-moves-rabobank-forex-crunch.md) | +0.9% | -0.8% |

## Sources

- costaalegrerestaurant.com: https://costaalegrerestaurant.com/emerging-markets-cenbank-forex-swap-buoys-brazil-real.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.