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Brazil central bank to sell up to $3 bln in next dollar auction to boost real

BY Reuters | ECONOMIC | 12/18/24 05:23 PM EST

SAO PAULO/BRASILIA, Dec 18 (Reuters) - Brazilian central bank will sell up to $3 billion in a spot dollar auction on Thursday morning, it announced on Wednesday, in a bid to strengthen the country's real currency.

The auction will start at 9:15 a.m. local time, the monetary authority added.

The battered real tumbled to its weakest level against the U.S. dollar in over two years to settle at a fresh record low on Wednesday as financial markets added more pressure on Brazil's government to tame spending and narrow a wide budget deficit.

The central bank did not intervene in the currency market on Wednesday after four straight sessions of dollar auctions, including spot deals along with repurchase agreements. (Reporting by Andre Romani and Isabel Versiani; Editing by Aida Pelaez-Fernandez and David Alire Garcia)

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