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You are here: Home»Markets»FXMM»Americas»Brazil real weakens as central bank announces swap auction

realRIO DE JANEIRO: The Brazilian real weakened about half a percentage point on Monday after the central bank intervened in the market, signaling it does not want the currency to gain past the level of 1.95 per US dollar.

The bank said it was selling up to 30,000 reverse currency swaps, derivative contracts designed to weaken the real, which had been trading slightly below 1.95 per dollar since Friday.

The real last traded at 1.9563 per dollar, 0.5 percent weaker than Friday's close.

Copyright Reuters, 2013


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln