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Brazil real weakens 1 pct as central bank intervenes
September 17, 2012 / 1:17 PM / 5 years ago

Brazil real weakens 1 pct as central bank intervenes

RIO DE JANEIRO, Sept 17 (Reuters) - The Brazilian real fell 1 percent on Monday after the central bank intervened in the market to block any fallout from the U.S. Federal Reserve’s stimulus policies.

The central bank sold $2.17 billion in reverse currency swaps, derivative contracts designed to weaken the currency.

At 10:10 a.m. (1310 GMT), The real weakened 1 percent to 2.031 per U.S. dollar.

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