Reuters: US Dollar Report: Brazil cenbank calls currency swap auction, real trims losses

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Brazil cenbank calls currency swap auction, real trims losses Jul 22nd 2013, 13:53 RIO DE JANEIRO, July 22 | Mon Jul 22, 2013 9:53am EDT RIO DE JANEIRO, July 22 (Reuters) - Brazil's central bank offered to sell as many as 20,000 traditional currency swaps on Monday, continuing with its efforts to roll over 114,300 contracts that expire on Aug. 1. Policymakers have used the contracts, which offer investors protection against a further weakening of the real, to cushion a currency depreciation that has added to inflation pressures in Latin America's largest economy. The real , which had weakened to as much as 2.2485 per U.S. dollar minutes earlier, traded at 2.2434 after the announcement, still 0.1 percent weaker from Friday's close.

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