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Brazil's Foreign Reserves Increase $1.5 Billion in June

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SAO PAULO--Brazil's foreign currency reserves picked up $1.5 billion in June from the previous month, reversing the drop saw in May, as the value of country's investments increased.

Foreign exchange reserves, which are a significant part of Brazil's protection against global crises, totaled $373.9 billion in June, up from $372.4 billion recorded in May, the Central Bank of Brazil said on its website Tuesday.

By comparison, in May country's foreign reserves dropped $1.9 billion versus April.

The reserves act as a buffer for Brazil, as they're a form of guarantee that the country will be able to make good on its overseas debts, helping to protect Brazil from any short-term reversal in investor sentiment toward the country.

 

Write to Rogerio Jelmayer at rogerio.jelmayer@dowjones.com

 

(END) Dow Jones Newswires

July 03, 2012 07:30 ET (11:30 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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