Brazil Treasury Extends Record Intervention as Volatility Surges

The Central Bank of Brazil headquarters in Brasilia. — The Central Bank of Brazil headquarters in Brasilia.
Photographer: Arthur Menescal/Bloomberg

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By Giovanna Bellotti Azevedo, Martha Beck, and Felipe Saturnino

March 18, 2026 at 4:13 PM UTC

Brazil’s Treasury is stepping into markets for a third straight day, counting on a record intervention to contain volatility triggered by a surge in oil prices amid escalating tensions around the war in Iran.

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