The Brazilian central bank will offer $4 billion in dollar auctions on March 29 and 30 to roll over contracts expiring April 2. Each day will see up to $2 billion in sales, with repurchase agreements planned for later dates. The bank continues its currency market intervention strategy.
The Brazilian central bank is set to conduct dollar auctions totaling up to $4 billion, to be executed on March 29 and 30. Each auction day will allow for a maximum sale of $2 billion through repurchase agreements, aimed at rolling over contracts that are set to expire on April 2. Such measures reflect ongoing currency interventions following similar actions undertaken in the previous month.
The auctions are planned to take place twice daily, with sessions scheduled from 10:30 a.m. to 10:35 a.m. local time. The corresponding repurchase agreements for these auctions will be realized on either August 4 or September 3, depending on the specifics of the auction.
The Brazilian central bank is actively engaging in the currency market by offering dollar auctions worth $4 billion to manage expiring contracts. With a clear schedule for the auctions and repurchase agreements, the central bank continues its strategy from previous interventions, reflecting a commitment to stabilize and support the national currency.
Original Source: www.marketscreener.com
