Brazil central bank calls currency swap auction for Friday
RIO DE JANEIRO, July 18
RIO DE JANEIRO, July 18 (Reuters) - Brazil's central bank offered to sell as many as 20,000 traditional currency swaps on Friday, continuing with its efforts to roll over 114,300 contracts that expire on Aug. 1.
Policymakers have used the contracts, which offer investors protection against a further weakening of the real, to cushion a currency depreciation that has added to inflation pressures in Latin America's largest economy.
The bank said in a statement it will offer at 10:30 a.m. (1330 GMT) on Friday as many as 20,000 traditional swaps maturing on Dec. 2, 2013.
The real , which had weakened more than 0.5 percent early on Thursday, was little changed at 2.2249 per U.S. dollar after the announcement.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.