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Brazil central bank sells all reverse currency swaps offered
February 15, 2013 / 12:05 PM / 5 years ago

Brazil central bank sells all reverse currency swaps offered

SAO PAULO, Feb 15 (Reuters) - Brazil’s central bank on Friday sold all the reverse currency swaps it had offered at an auction designed to halt the real’s recent gains.

The central bank sold 27,000 swap contracts, derivatives that mimic the purchase of dollars in the futures market and are used by policymakers to weaken the local currency.

The real last traded at 1.9616 per U.S. dollar, 0.24 percent weaker on the day, after trading near 1.95 per dollar earlier in the session.

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