forex reserves

President of Central Bank of Brazil Henrique Meirelles has stated that the country has enough foreign currency reserves to help compensate for a drop in international credit lines to the country. So, the bank is planning to offer credit lines in dollars, using funds from its reserves, to domestic banks on Feb. 27, March 13 and March 27. The lines intended to help the companies which have some difficulties with cash to pay foreign obligations, may total $20 billion, said the president.