Brazil's Central Bank Buys Dollars At 2nd Auction At BRL1.5572
RIO DE JANEIRO (Dow Jones)--The Brazilian central bank bought U.S. dollars at a second snap auction Wednesday, paying BRL1.5572 to the dollar.
Earlier in the session, the bank also purchased dollars from the spot market at BRL1.5660. The bank didn't disclose the volume of dollars purchased at either auction.
The central bank has intervened in currency markets on a near-daily basis since May 2009 in an effort to prop up the dollar and limit heavy foreign-investment inflows.
-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; [email protected]
(END) Dow Jones Newswires
July 27, 2011 15:12 ET (19:12 GMT)