Brazil’s central bank will hold a spot dollar auction of up to $1 billion on June 22, and a simultaneous reverse foreign exchange (FX) swap auction, it said in separate statements on Friday.
Both deals start at 9:20 a.m. local time (1220 GMT), the central bank said.
A reverse FX swap, which in this case involves up to 20,000 contracts, is equivalent to buying U.S. dollars in the futures market.