March 27, 2019 / 10:59 PM / 3 months ago

Brazil central bank announces $1 bln forex auction as real collapses

RIO DE JANEIRO, March 27 (Reuters) - Brazil’s central bank on Wednesday announced a currency auction for Thursday to sell $1 billion in the spot market, with a contract for repurchase, seeking to prop up the real after it was hit by doubts over the government’s reform agenda.

On Tuesday, the central bank offered $3 billion in a similar auction, but the amount just rolled over previous contracts that expired. The real fell to a nearly six-month low against the dollar on Wednesday over fears President Jair Bolsonaro’s pension reform may collapse. (Reporting by Jose de Castro; Writing by Gabriel Stargardter)

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