SAO PAULO Dec 3 Brazil's central bank on Monday
sold over half of the currency swaps it offered in an auction,
strengthening the country's currency, the real, from
around its weakest levels in over 3-1/2 years.
The central bank said in a statement it had sold 21,800
swaps maturing on Jan. 2, 2013, of an offer of 40,000 contracts.
The currency swaps are derivatives that emulate the selling of
dollars in the futures markets.
Brazil's currency, the real, gained shortly after the
auction and was trading 0.87 percent stronger at 2.1116 reais
per U.S. dollar. It slumped on Friday after weaker-than-expected
economic growth data suggested the government would let the
currency depreciate to prop up the economy.