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Brazil central bank sells $314.6 mln in forex swaps

Thu Dec 4, 2008 2:33pm EST

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SAO PAULO, Dec 4 (Reuters) - Brazil's central bank sold about $314.6 million in dollar swaps in an auction on Thursday as part of an ongoing effort to add liquidity to the foreign exchange market.

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The bank sold 6,320 of 10,000 contracts on offer.

It called the auction after the local foreign exchange market had closed. It normally holds swap auctions during trading hours.

Brazil's currency, the real (BRBY), slumped 1.3 percent on Thursday in volatile trade to 2.508 per dollar, its weakest close since May 2, 2005. It was the third straight day that the real has fallen.

(Reporting by Fabio Gehrke, Writing by Todd Benson)

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