Brazil’s central bank said on Wednesday it will hold an auction to buy U.S. dollars on the spot foreign exchange market as part of an ongoing effort to build up international reserves.

The Brazilian currency, the real, was 0.15 percent stronger after the announcement at 1.944 per dollar. The real has traded below 2.0 per dollar since May 15, when it lost that level for the first time in six years.

Posted: 06|14|07 at 8:12 am. Filed under: Auction News.