December 26, 2012 / 11:56 AM / 5 years ago

Brazil real gains as central bank sells U.S. dollars

SAO PAULO, Dec 26 (Reuters) - 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.

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