(Bloomberg) -- Brazil's real fell for a second day after the central bank surprised the market yesterday by purchasing dollars earlier than usual.
The bank bought dollars in the morning rather than in the afternoon yesterday. Later in the day, it sold 8,550 reverse currency swaps at auction. The swaps are contracts in which the central bank buys the U.S. currency in the futures market, allowing investors to hedge against a weaker dollar.
Read more at Bloomberg Currencies News
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