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Mercado de Câmbio Brasileiro, Intervenções do Banco Central e Controles de Capitais de 1999 a 2012

Listed author(s):
  • Estêvão Kopschitz Xavier Bastos
  • Patrícia Vivas da Silva Fontes
Registered author(s):

    Neste trabalho, descreve-se o funcionamento do mercado de câmbio no Brasil e abordam-se as relações entre preços de derivativos e preços à vista. É feita uma revisão bibliográfica a respeito do assunto e são estudadas, de forma descritiva e exploratória, as intervenções do Banco Central do Brasil no mercado cambial brasileiro, tanto no mercado com entrega física de moeda quanto no de swaps, de 2000 a 2012, e as regulamentações do mercado cambial de 1999 a 2012, por meio de compilação e de breve análise das medidas tomadas no período. In this paper, we describe the operation of the foreign exchange (FX) market in Brazil and discuss the relations between prices of derivatives and spot prices. A literature review of interventions in the FX market is done. Then, we study, in a descriptive way, the interventions of the Central Bank of Brazil, both in the market with physical delivery of currency, and in the swaps market, from 2000 to 2012, as well as the regulations of the Brazilian FX market, from 1999 to 2012, by compiling and briefly analysing the measures taken during the period.

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    Paper provided by Instituto de Pesquisa Econômica Aplicada - IPEA in its series Discussion Papers with number 1934.

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    Length: 92 pages
    Date of creation: Feb 2014
    Handle: RePEc:ipe:ipetds:1934
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