Brazil central bank calls auction to buy dollars

SAO PAULO, Sept 10 | Thu Sep 10, 2009 2:28pm EDT

SAO PAULO, Sept 10 (Reuters) - Brazil's central bank offered to buy dollars on the spot foreign exchange market on Thursday as part of an ongoing effort to boost international reserves and soak up greenbacks pouring into the economy.

The bank has bought nearly $11.11 billion on the spot market since May 8, including $2.625 billion in August and $323 million in the first four days of September, to soak up dollar liquidity and prevent further appreciation of Brazil's currency, the real.

The real BRBY traded 0.82 percent stronger at 1.819 per U.S. dollar shortly after the central bank's announcement. (Reporting by Jose de Castro; Writing by Elzio Barreto; Editing by James Dalgleish)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.