September 17, 2012 / 1:07 PM / 5 years ago

Brazil's central bank sells $2.17 bln in reverse currency swaps

SAO PAULO, Sept 17 (Reuters) - Brazil’s central bank sold $2.17 billion in reverse currency swap contracts in an auction on Monday, its latest attempt to curb currency gains following the announcement of a third round of U.S. monetary stimulus by the Federal Reserve last week.

The bank sold 43,500 of the 70,000 swap contracts on offer, with 35,500 maturing on Nov. 1 and 8,000 maturing on Dec. 3.

Brazil’s currency, the real, was trading 0.94 percent weaker at 2.0296 reais per U.S. dollar shortly after the auction.

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