Under attack, the real melts

The situation has worsened since the adoption of a more passive exchange rate policy in 2015, draws attention to economist Pedro Rossi, professor at the Institute of Economics of Unicamp and author of the book Exchange Rate and Exchange Policy in Brazil. This condition prevents greater effectiveness in the sale of foreign exchange swaps on the Bovespa, by the Central Bank, as, despite being important, the use of this instrument is not sufficient to mitigate the volatility and exchange rate trends generated by the financial sector.