The third day of central bank intervention in the foreign exchange market did little to ease pressure on the Brazilian real, which was trading at around 2.03 to the dollar. "I think the central bank is just showing its presence on the market rather than trying to make a forced recovery of the real," one trader said.
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BRAZILIAN STOCKS tumbled yesterday amid renewed fears about the stability of the currency. The Bovespa index was trading down 140.8 points at 8812.38 by early afternoon.