Reuters: US Dollar Report: Brazil's c.bank sells $1.3 bln in FX swap contracts

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Brazil's c.bank sells $1.3 bln in FX swap contracts May 23rd 2012, 15:52 SAO PAULO | Wed May 23, 2012 11:52am EDT SAO PAULO May 23 (Reuters) - Brazil's central bank sold $1.3 billion in swap contracts at auction on Wednesday, stemming a sharp loss in its local currency amid renewed concerns over Greece's permanence in the euro zone. The bank sold 26,400 swaps, or 33 percent of 80,000 contracts on offer. The contracts sold mature on July 2 and August 1. Brazil's currency, the real, gained shortly after the auction and was trading 0.46 percent stronger at 2.0695 reais per U.S. dollar.

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