Reuters: US Dollar Report: Brazil central bank sells 25,800 FX swaps, real adds to losses

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Brazil central bank sells 25,800 FX swaps, real adds to losses Oct 5th 2012, 14:20 RIO DE JANEIRO | Fri Oct 5, 2012 10:20am EDT RIO DE JANEIRO Oct 5 (Reuters) - Brazil's central bank on Friday sold about half of the reverse currency swaps it offered in an auction, causing the real to weaken about 0.3 percent. The central bank said in a statement it sold 10,300 swaps maturing on Dec. 3, 2012, and 15,500 contracts maturing Jan. 2, 2013. The bank had initially offered to sell as many as 50,000 contracts of the two maturities combined. The real dropped 0.36 percent to 2.0248 per U.S. dollar after the sale of the reverse swaps, which are derivative contracts designed to weaken the currency.

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