The dollar depreciated by 1.49 per cent Friday in Brazil, even as a huge Central Bank intervention plan for the foreign exchange market went into effect, dpa reported. The intervention, which was announced late Thursday and went into force Friday, provides for Central Bank auctions of up to 500 million dollars per day in futures contracts and a weekly auction of up to 1 billion dollars. The Central Bank will be able to auction off up to 60 billion dollars by December 31 in this manner. Brazilian monetary authorities intend to ease the pressure that the South American giant's currency, the real, has been under since May. The dollar has appreciated by 21.5 per cent since May in relation to the real. One dollar went for 2.396 real Friday. -- SPA 18:59 LOCAL TIME 15:59 GMT تغريد
