Brasília – The Brazilian Central Bank sold 55,075 exchange rate swap contracts, less than half the total offered (112,290). This type of operation is equivalent to selling dollars on the future market. The amount raised was US$ 2.716 billion.
The exchange rate swap operations have been divided into four batches maturing on October 3, November 1, December 1 and January 2, 2012. This was the Central Bank’s first operation of this sort since June 26, 2009.
As a result of the ongoing dollar price hike, this Wednesday (21) the Central Bank called off a reverse exchange rate swap operation for debt rollover, maturing on October 1. The operation is equivalent to purchasing dollars on the futures market.
On September 14, the Central Bank also refrained from making spot market dollar purchases, which it had carried out in all working days this year.
*Translated by Gabriel Pomerancblum
