SAO PAULO Dec 26 Brazil's central bank said on
Wednesday it will sell up to $2 billion on the spot market on
Dec. 27 with a repurchase agreement, a strategy designed to
provide liquidity to the foreign exchange market.
The bank said in a statement it will conduct one auction to
sell U.S. dollars with a repurchase date set for Feb. 1, 2013
and a cutoff rate of 2.06831 reais.
Brazil's currency, the real, strengthened 1.25
percent to 2.0525 per U.S. dollar on the spot market shortly
after the announcement.