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Brazil central bank sets cutoff rate on dollar auction
December 3, 2012 / 6:36 PM / 5 years ago

Brazil central bank sets cutoff rate on dollar auction

RIO DE JANEIRO, Dec 3 (Reuters) - Brazil’s central bank on Monday set a cutoff rate of 2.12245 reais per U.S. dollar at a first dollar auction designed to boost liquidity in the foreign exchange market at the end of the year.

The bank is offering up to $5 billion in two separate auctions with different repurchase agreement dates: Jan. 4 and Feb. 4, 2013.

That cutoff rate is for the dollars that will be repurchased in January, the bank said in a statement. It has not yet given details about the outcome of the second auction.

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