Brazil cenbank to sell dollars Friday with repurchase agreement

SAO PAULO Fri Feb 28, 2014 7:34am EST

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SAO PAULO Feb 28 (Reuters) - Brazil's central bank on Friday offered to sell as much as $1.8 billion with a repurchase agreement, in an effort to provide dollar financing lines to the market and ease pressure on the real.

The central bank said it will offer the greenbacks in an auction to be held between 10:30 a.m. and 10:35 a.m. local time (1330 to 1335 GMT), with the repurchase date set for May 5, 2014.

The real strengthened after the announcement, trading 0.21 percent higher at 2.3175 per dollar.

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