Brazil’s central bank holds auction to buy dollars
April 2nd, 2008 | by admin |SAO PAULO, April 2 (Reuters) - Brazil’s central bank saidon Wednesday it would hold an auction to buy dollars on thespot foreign exchange market as part of an ongoing effort toboost international reserves.
The Brazilian real BRBY<BRL=> was 0.86 percent strongerat 1.73 per dollar shortly after the announcement.
The central bank has been buying dollars almost daily sinceOctober, helping lift Brazil’s reserves to about $195 billion. (Reporting by Silvio Cascione, translated by Elzio Barreto,Editing by Chizu Nomiyama)
