Reuters: US Dollar Report: Brazil central bank sells all 30,000 currency swaps at auction

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Brazil central bank sells all 30,000 currency swaps at auction Jul 31st 2013, 13:42 Wed Jul 31, 2013 9:42am EDT RIO DE JANEIRO, July 31 Reuters) - Brazil's central bank on Wednesday sold all of the 30,000 traditional currency swaps offered at auction, in an attempt to ease a dollar shortage that drove the real to its weakest in over four years. Traditional currency swaps are derivative contracts that provide investors with protection against a possible depreciation of the real. Still, the Brazilian currency remained 0.6 percent weaker at 2.2937 per U.S. dollar after the auction. It earlier slid to as low as 2.3022 per greenback, its weakest since April 1, 2009.

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