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Brazil cenbank sells $350.2 million in reverse currency swaps
August 21, 2012 / 3:07 PM / 5 years ago

Brazil cenbank sells $350.2 million in reverse currency swaps

SAO PAULO, Aug 21 (Reuters) - Brazil’s central bank sold $350.2 million of reverse swap contracts at auction on Tuesday, in an effort to stem recent gains in the country’s currency, the real.

The bank sold 7,000 swaps, or 14 percent of 50,000 contracts on offer. The contracts sold all mature on Sept. 3.

At 12:01 p.m. (1501 GMT), the real weakened 0.14 percent to 2.0181 against the dollar.

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