Brazil cenbank to sell $2.25 bln with repurchase agreement Thursday
RIO DE JANEIRO, July 28 (Reuters) - Brazil's central bank on Monday said it will auction on July 31 as much as $2.25 billion on the spot market through repurchase agreements in order to roll over similar dollar lines that expire on Aug. 4.
Sporadic offerings of dollar lines, as well as daily auctions of currency swaps, are part of the central bank's strategy to provide liquidity to the foreign exchange market, reducing volatility of the real.
The central bank said in a statement that the dollars sold on Thursday will be repurchased on Jan. 5 and Feb. 3 of next year.
The real closed on Monday at 2.2230 per dollar, 0.16 percent stronger than on Friday. (Reporting by Walter Brandimarte; Editing by Steve Orlofsky)
© Thomson Reuters 2017 All rights reserved.