Reuters: US Dollar Report: Brazil central bank sells all currency swaps offered at auction

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Brazil central bank sells all currency swaps offered at auction Jul 18th 2013, 14:01 RIO DE JANEIRO, July 18 | Thu Jul 18, 2013 10:01am EDT RIO DE JANEIRO, July 18 (Reuters) - Brazil's central bank said on Thursday it sold all of the 20,000 traditional currency swaps offered at an auction to roll over expiring maturities, and announced another swap sale for Friday. The bank had offered the new swaps, maturing on Dec. 2, 2013, to start rolling over 114,300 contracts that will expire on Aug. 1. Traditional currency swaps are derivative contracts that provide investors with protection against a possible depreciation of the real. The real , which had weakened more than 0.5 percent early on Thursday, was little changed at 2.2244 per U.S. dollar after the central bank action.

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