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Brazil central bank sells all currency swaps offered at auction
January 28, 2013 / 2:00 PM / 5 years ago

Brazil central bank sells all currency swaps offered at auction

RIO DE JANEIRO, Jan 28 (Reuters) - Brazil’s central bank on Monday sold all the 37,000 traditional currency swaps it had offered in an auction, sending a strong signal that it now favors a stronger real to help fight inflation.

The real jumped over 1 percent and neared the level of 2.0 reais per dollar, which for months has been considered the lower limit of an informal trading band for the currency.

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