Reuters: Regulatory News: Brazil central bank sells 38,900 currency swaps; real drops

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Brazil central bank sells 38,900 currency swaps; real drops Jul 5th 2013, 12:56 RIO DE JANEIRO, July 5 | Fri Jul 5, 2013 8:56am EDT RIO DE JANEIRO, July 5 (Reuters) - Brazil's central bank on Friday sold 38,900 of the 40,000 traditional currency swaps it offered at an auction designed to support the real. The bank said in a statement it sold 19,600 swaps due in Nov. 1 and 19,300 swaps maturing on Dec. 2. Those are derivative contracts that mimic the sale of dollars in the futures market. Despite the intervention, the real dropped 0.5 percent to 2.2664 per dollar.

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