Brazil's central bank calls auction to buy dollars

Mon Nov 9, 2009 12:40pm EST
 
[-] Text [+]

SAO PAULO, Nov 9 (Reuters) - Brazil's central bank offered to buy dollars on the spot foreign exchange market on Monday in an ongoing effort to boost international reserves and soak up greenbacks pouring into the economy.

The bank has bought about $21 billion on the spot market since May 8, including about $6.7 billion in October, to soak up dollar liquidity and prevent further appreciation of Brazil's currency, the real.

Brazil's currency (BRBY) was trading 0.99 percent stronger at 1.702 per U.S. dollar shortly after the central bank's announcement.

(Reporting by Silvio Cascione; Writing by Luciana Lopez)

 

Companies In This Article

Featured Broker sponsored link