Brazil says to sell dollars on spot market to boost liquidity

RIO DE JANEIRO Mon Dec 3, 2012 12:53pm EST

RIO DE JANEIRO Dec 3 (Reuters) - Brazil's central bank said it will sell dollars on the spot market on Monday and buy them back in the beginning of 2013, in a move to provide liquidity to the foreign exchange market at the end of the year.

The dollars will be sold at an auction that will settle on Dec. 5, the central bank said in a statement. The monetary authority will repurchase the dollars on Jan 4, 2013.

The real gained 0.5 percent to 2.1193 per dollar after the announcement.

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