Brazil's cenbank announces $1 billion spot auction, reverse FX swap deal for October 27
SAO PAULO, Oct 23 (Reuters) - The Brazilian central bank will hold a spot dollar auction of up to $1 billion on October 27, and a simultaneous reverse FX swap auction, it said in separate statements on Thursday.
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.
The last time Brazil's central bank simultaneously held a spot dollar auction and a reverse FX swap auction was in late June.
Central bank chief Gabriel Galipolo has said the June auctions were aimed to address an issue with foreign-exchange coupons, adding they were not a signal of any change in the bank's currency policy.
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