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Brazil cenbank sells 20,000 FX swaps to roll over November maturities
October 23, 2013 / 5:03 PM / 4 years ago

Brazil cenbank sells 20,000 FX swaps to roll over November maturities

RIO DE JANEIRO, Oct 23 (Reuters) - Brazil’s central bank on Wednesday sold all of the 20,000 currency swaps it had offered to roll over similar contracts that expire in the beginning of November.

The bank said in a statement it sold 5,500 contracts maturing on July 1, 2014, and 14,500 contracts expiring on Oct. 1, 2014. On Tuesday, it had already sold 20,000 swaps split between those two maturities to roll over part of the contracts expiring in November.

Brazil’s central bank has been regularly selling swaps as part of a daily intervention program that provides investors with a hedge against a possible depreciation of the real. About $8.9 billion of the contracts sold so far mature on Nov. 1.

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