Brazil real gains as central bank sells U.S. dollars

SAO PAULO Thu Dec 27, 2012 6:47am EST

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SAO PAULO Dec 27 (Reuters) - The Brazilian real gained early Thursday as the central bank conducted an auction to sell up to US$2 billion on the spot market with repurchase agreements.

The operation, which aims at providing liquidity to the foreign exchange market at year-end, was announced late Wednesday.

A repurchase date is set for Feb. 1, 2013 with a cutoff rate of 2.06831 reais per dollar, the bank said on Thursday.

At 9:39 a.m. (1139 GMT), the real traded at 2.0421 per dollar, 0.37 percent stronger than Wednesday's close.