Reuters: US Dollar Report: Brazil central bank sells 28,300 reverse swaps at auction

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Brazil central bank sells 28,300 reverse swaps at auction Oct 25th 2012, 12:01 SAO PAULO | Thu Oct 25, 2012 8:01am EDT SAO PAULO Oct 25 (Reuters) - Brazil's central bank on Thursday sold nearly all reverse currency swaps it offered in an auction as part of its strategy to prevent the Brazilian currency from gaining past 2 reais per dollar. The central bank said in a statement it had sold 22,300 swaps maturing on Dec. 3, 2012, and 6,000 contracts maturing Jan. 2, 2013. The bank had initially offered to sell as many as 30,000 contracts of both maturities. The real was little changed after the auction, which aimed to roll over contracts due to expire at the end of the month. The currency slipped 0.04 percent to 2.0255 per dollar.

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