Reuters: US Dollar Report: Brazil central bank sells 33,000 reverse swaps at auction

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Brazil central bank sells 33,000 reverse swaps at auction Oct 23rd 2012, 12:14 SAO PAULO | Tue Oct 23, 2012 8:14am EDT SAO PAULO Oct 23 (Reuters) - Brazil's central bank on Tuesday sold about half of the reverse currency swaps it offered in an auction, as part of its strategy to prevent the Brazilian currency from gaining past 2 per dollar. The central bank said in a statement it sold 17,000 swaps maturing on Dec. 3, 2012, and 16,000 contracts maturing Jan. 2, 2013. The bank had initially offered to sell as many as 60,000 contracts of the two maturities combined. The real was little changed after the auction, which aimed at rolling over contracts due to expire at the end of the month. It slipped 0.17 percent to 2.0278 per dollar.

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