Central Bank monitoring Brexit effects on Brazilian market

Brazil's Central Bank (BC) said Friday (Jun. 24) that it is continuously monitoring the global and domestic markets for the effects of the Brexit referendum that resulted in a popular vote for the United Kingdom to leave the European Union.

In a statement, the BC said it will take the appropriate steps to maintain Brazil's financial and exchange markets operating normally. “The Brazilian economy has robust foundations to face up to the effects of this process, [including] a significant amount of international reserves, a floating exchange rate, and a sound financial system with low international exposure,” the statement read.

Translated by Mayra Borges