The Central Bank will hold an extra auction of foreign exchange swaps next Monday (2). According to the BC, the auction will take place between 9:30 am and 9:40 am, with an offer of 14,700 contracts, equivalent to US$ 735 million.
The offer was announced on Friday night (30). The swap operation has an effect equivalent to the sale of dollars on the futures market.
US$ 765 million sold this Friday
On Friday, the Central Bank had already held a swap auction in the early afternoon, offering up to 30,000 contracts (US$ 1.5 billion). In this operation, 15,300 contracts (US$ 765 million) were sold.
Thus, in practice, the offer of 14,700 contracts on Monday represents a second attempt by the BC to complete the sale of the 30,000 contracts originally offered.
In addition to this additional operation, the Central Bank announced that next Monday, as usual, it will auction up to 12,000 foreign exchange swap contracts to roll over October maturities. In this case, the operation will be carried out between 11:30 and 11:40.
(By Fabricio de Castro)