Brazil's cenbank announces $1 billion spot auction, reverse FX swap deal for June 25

SAO PAULO, June 23 (Reuters) - The Brazilian central bank will offer on Wednesday morning up to $1 billion in a spot dollar auction, while simultaneously holding a reverse FX swap auction of the equivalent size, it said on Monday.

Both deals start at 9:30 local time, the central bank said.

A reverse currency swap, which in this case involves up to 20,000 contracts, is equivalent to buying U.S. dollars in the futures market.

In another statement, the central bank also said it would hold auctions starting on July 1 to roll over traditional currency swaps due August 1, without disclosing the size of the stock set to expire on that date.