SAO PAULO Dec 26 The Brazilian real gained early on Wednesday as the central bank conducted an auction to sell up to $2 billion on the spot market with repurchase agreements.
The operation, which aims at providing liquidity to the foreign exchange market at year-end, was announced late on Friday.
A repurchase date is set for March 1, 2013 with a cutoff rate of 2.09695 reais per dollar.
At 9:47 a.m. (1147 GMT), the real traded at 2.0695 per dollar, 0.42 percent stronger than Monday's close.
The currency market was closed on Tuesday for the Christmas holiday.