June 20, 2013 / 12:43 PM / 4 years ago

Brazil central bank intervenes to curb real's slide

RIO DE JANEIRO, June 20 (Reuters) - Brazil central bank intervened on the foreign exchange market on Thursday, in an attempt to curb sharp currency losses that have been spurred by fears that the U.S. Federal Reserve is about to scale back its monetary stimulus program.

The real had plunged more than 1 percent at open, nearing the level of 2.25 per dollar, when the central bank offered to sell as much as 30,000 traditional currency swap contracts, derivative contracts that emulate the sale of dollars in the futures market.

It last traded at 2.235 per greenback, still 0.7 percent weaker on the day.

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