The auction will take place between 9:40 a.m. (1140 GMT) and 9:50 a.m. and its results will be announced at 10:00 a.m., the central bank said in a statement. All swap contracts offered expire on Jan. 2.

Brazil's currency, the real, gained shortly after the announcement and was trading 0.72 percent stronger at 2.1147 reais per US dollar. It slumped on Friday after weaker-than-expected economic growth data suggested the government would let the currency depreciate to prop up the economy.