Brazil's central bank will hold an additional auction of foreign exchange swap contracts on April 2 to meet the demand created by the upcoming redempt
Brazil’s central bank will hold an additional auction of foreign exchange swap contracts on April 2 to meet the demand created by the upcoming redemption date of an FX-linked bond, it said on Monday.
In a statement, the central bank of Latin America’s largest economy said the goal of the auction is “to maintain the regular functioning of the foreign exchange market,” given the April 15 maturity date for the 18.53 billion real ($3.67 billion) NTN-A3 bond.
The bank said 20,000 currency swap contracts, worth $1 billion, will be auctioned on Tuesday.
($1 = 5.0546 reais)
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