SAO PAULO (Reuters) -The Brazilian central bank said on Friday it will offer up to $2 billion in two dollar auctions with repurchase agreements on Monday morning.
In a statement, the central bank said the simultaneous auctions will start at 10:30 a.m. local time, and aim to roll over contracts maturing in January.
The repurchases for the new auctions are set for April 2 and May 5, according to the monetary authority.
By conducting roll-over auctions, the central bank guarantees liquidity in the currency market and prevents additional demand for U.S. dollars from pressuring the Brazilian real.
(Reporting by Fernando Cardoso; Editing by Kylie Madry)
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