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Brazil's central bank sells all currency swaps offered at auction
March 27, 2013 / 3:11 PM / 5 years ago

Brazil's central bank sells all currency swaps offered at auction

SAO PAULO, March 27 (Reuters) - Brazil’s central bank said it sold all 20,000 currency swap contracts offered at an auction on Wednesday, strengthening the country’s currency, the real.

The currency swaps, which mature on May 2, 2013, 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 0.28 percent stronger at 2.0105 reais per U.S. dollar.

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