SAO PAULO, March 18 (Reuters) - The Brazilian Central Bank announced on Tuesday that it will conduct dollar auctions with repurchase agreements on Wednesday and Thursday, offering up to a total of $4 billion, with a maximum of $2 billion for sale each day.
In statements, the bank explained that these transactions are intended to renew contracts expiring on April 2, following its previous currency intervention last month, which also aimed at contract renewal.
The auctions, two each day, are scheduled between 10:30 a.m. and 10:35 a.m. local time, with the repurchase set for either August 4 or September 3, depending on the auction outcome.