Brazil’s central bank will offer foreign currency credit lines to banks for the first time since March

as policy makers seek to support the R$.
    

The institution will sell as much as $3.5 billion June 30 to roll over similar contracts that expire July 2,

the central bank said. The new contracts, equivalent to a loan in dollars, expire Dec. 2.
    

The move follows the central bank’s decision this week to extend for at least six months its daily currency

interventions that helped strengthen the R$, the best performer among emerging markets this year.

A weaker R$ could further stoke inflation, which central bank forecasts will hover around the 6.5 percent ceiling of

the target range this year.
    

“The central bank wants to reinforce or sustain the appreciated exchange rate,”

Roberto Padovani, chief economist at Votorantim Ctvm, said by telephone.

“They are worried about inflation in the short term.”
    

The R$ reversed an earlier loss to gain 0.1 percent to 2.1938 per dollar today, extending its year-to-date increase to
7.7 percent.

==> 브라질 정부의 지속적인 R$ appreciation 정책(USD대비 환율하락) 유지되고 있음.