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Foreign Exchange

FX news: More world cup priorities

Last week we noted that primary dealers in South Africa government bonds were effectively given a half day to coincide with the start of the world cup (FX comment: When does the world cup start?).

It seems that the Brazilian central bank is of like mind with the South African national treasury: I’m told that Sisbacen (the Brazilian central bank information system and where all BRL FX deals have to be registered) was closed from 1.30pm local time on Tuesday.

Brazil’s first match, against North Korea, started at 3.30pm Brasilia time. Fortunately Brazil won 2-1.

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