Brazilian Central Bank to Sell US$11.3 Billion from Reserves in November

The money will be used to renew traditional currency swap contracts (selling dollars on the futures market) that expire in January.

RIO DE JANEIRO, BRAZIL - After auctioning US$26.9 billion (R$107.6 billion) of international reserves in recent months, the Central Bank (BC) will sell an additional US$11.3 billion in the cash market in November. The announcement was issued yesterday, October 24th, by the monetary authority after the markets closed.

The money will be used to renew traditional currency swap contracts (selling dollars on the futures market) that expire . . .

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