Brazil’s foreign-currency reserves rose $9.12 billion in January, The Wall Street Journal reports. The Latin American nation’s foreign reserves were reported at $297.7 billion as of end of the last month, compared with $288.57 billion at the end of December.

The reserves, which started to increase in October 2005 when the central bank started buying dollars from the spot market, began declining beginning in October 2008. The Brazilian government started purchasing dollars from the market at spot auctions in 2009.

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