Reuters: US Dollar Report: Brazil central bank calls 3rd swap auction to halt currency slide

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Brazil central bank calls 3rd swap auction to halt currency slide Jul 31st 2013, 14:50 RIO DE JANEIRO, July 31 | Wed Jul 31, 2013 10:50am EDT RIO DE JANEIRO, July 31 (Reuters) - Brazil's central bank intervened in the foreign exchange market for a third time on Wednesday, in an attempt to halt a currency slide that has driven the real to an over four-year low. The bank said in a statement it will auction as many as 15,000 traditional currency swaps maturing on March 2, 2014. It earlier sold 30,000 swaps expiring on Jan. 2, 2014 and 15,300 contracts maturing on March 2, 2014. Traditional currency swaps are derivative contracts designed to support the real. The Brazilian currency traded at 2.2826 per U.S. dollar after the announcement of the third swap auction, 0.15 percent weaker for the day, after sliding as low as 2.3022, its weakest since April 1, 2009.

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