May 20, 2020 / 9:57 PM / 7 days ago

Brazil has plenty of room to sell more FX reserves -central bank chief

BRASILIA, May 20 (Reuters) - Brazil's central bank has plenty of room to sell foreign exchange reserves and may increase its currency market intervention if it deems it necessary, bank president Roberto Campos Neto said on Wednesday.

Speaking in a live online event hosted by infrastructure and industry umbrella group Abdib, Campos Neto said the scale of capital outflows in March was surprising, and that the bank increased its FX intervention when it was apparent the Brazilian real was decoupling from other emerging currencies.

Reporting by Jamie McGeever and Marcela Ayres Editing by Chris Reese

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