Brazil central bank starts auctions to sell dollars

RIO DE JANEIRO Wed Dec 12, 2012 7:45am EST

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RIO DE JANEIRO Dec 12 (Reuters) - Brazil's central bank said on Wednesday it had started two previously announced auctions to sell as much as $1.5 billion on the spot market with repurchase agreement.

The bank set a cutoff rate of 2.088700 reais per dollar to the first auction, with repurchase date set to Jan. 14. Details on the second auction should be announced shortly.

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