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Central bank officials denied that the move was intended to weaken the real, insisting that they were merely taking advantage of a favorable exchange rate to bolster Brazil's scant foreign reserves.
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FOREIGN RESERVES Japan has the world's biggest official reserves (including foreign currency, special drawing rights and reserve positions at the IMF, but excluding gold).
Foreign reserves have shrunk.
Foreign reserves are being depleted.
Foreign reserves have been run down.
Foreign reserves are essentially unchanged this year.
Foreign reserves are down; unemployment is up.
Foreign reserves of $40 billion quickly evaporated.
Back then, their foreign reserves were tiny.
But Papadopoulos, a campaign volunteer with scant foreign policy experience, persisted.
The country's foreign reserves are running out.
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