Brazil's central bank holds auction to buy dollars

Thu Feb 22, 2007 12:28pm EST
 
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SAO PAULO, Feb 22 (Reuters) - Brazil's central bank said on Thursday it will hold an auction to buy U.S. dollars on the spot foreign exchange market as part of an ongoing effort to boost its international reserves.

The Brazilian currency, the real BRBY, was 0.1 percent stronger at 2.076 to the dollar after the announcement.

The dollar purchases have helped lift Brazil's foreign reserves to an all-time high of about $100 billion.

 
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