SAO PAULO, April 27 (Reuters) - Brazil's central bank said on Wednesday it will survey market demand on Thursday for reverse currency swaps, gauging whether to hold an auction the following day.
The last time the bank sold reverse currency swaps was on April 1. The bank uses the swaps, which have the same effect as buying U.S. dollars in the futures market, as a way to slow the appreciation of Brazil's currency, the real.
(Reporting by Jose de Castro, Writing by Todd Benson) Keywords: BRAZIL FOREX/SWAPS (todd.benson@thomsonreuters.com; +55-11-5644-7703; Reuters Messaging: todd.benson.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The last time the bank sold reverse currency swaps was on April 1. The bank uses the swaps, which have the same effect as buying U.S. dollars in the futures market, as a way to slow the appreciation of Brazil's currency, the real.
(Reporting by Jose de Castro, Writing by Todd Benson) Keywords: BRAZIL FOREX/SWAPS (todd.benson@thomsonreuters.com; +55-11-5644-7703; Reuters Messaging: todd.benson.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.