Brazil real strengthens 1 pct against dollar, nears 2/USD

SAO PAULO Mon Jan 28, 2013 8:55am EST

SAO PAULO Jan 28 (Reuters) - The Brazilian real strengthened 1 percent against the U.S. dollar on Monday after Brazil's central bank on Monday sold all 37,000 traditional currency swaps offered at auction. The swaps are derivative contracts that mimic the sale of dollars in the futures market.

At 11:53 a.m. (1253 GMT), the real strengthened 1.12 percent to 2.0079 per dollar.