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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.750-14.5%Dec 5 3:59 PM EST

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To: Bob Howarth who wrote (12149)1/21/1999 11:23:00 AM
From: Steve Fancy   of 22640
 
Brazil c.bank says will not intervene in forex mkt

Reuters, Thursday, January 21, 1999 at 11:10

BRASILIA, Jan 21 (Reuters) - Brazil's Central Bank
reiterated Thursday morning that it will not intervene in the
foreign exchange market to impede sharp fluctuations in the
currency, the real.
The foreign exchange rate will be set by the market in
function of dollar flows, Altamir Lopes, the head of the
Central Bank's economic department, said.

Copyright 1999, Reuters News Service



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