Reuters: US Dollar Report: Brazil's central bank sells all 40,000 swap contracts at auction

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Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Brazil's central bank sells all 40,000 swap contracts at auction Jun 28th 2013, 14:03 SAO PAULO, June 28 | Fri Jun 28, 2013 10:03am EDT SAO PAULO, June 28 (Reuters) - Brazil's central bank on Friday sold all 40,000 traditional currency swaps offered at an auction, in the latest intervention aimed at curbing a recent currency sell-off. The central bank said in a statement it sold 28,900 swaps maturing on Oct. 1, 2013, and 11,100 contracts expiring on Nov. 1, 2013. Traditional currency swaps are derivative contracts that provide investors with protection against a possible depreciation of the real. The real , which has traded at four-year lows in the past few weeks, was 1.2 percent weaker at 2.2229 per U.S. dollar after the auction results were announced.

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