SAO PAULO, March 26 The Brazilian central bank
has no target level intended for its local currency and no plans
to change its daily forex intervention program, a member of the
government's economic team told Reuters on Wednesday.
An initial partial sale of currency swaps - derivatives that
provide hedges against currency losses - raised speculation on
Wednesday that Brazilian policymakers could become less
aggressive in their currency intervention as the real
climbed to four-month highs.
(Reporting by Patricia Duarte; Writing by Alonso Soto; Editing
by Chris Reese)