Brazil central bank holds auction to buy dollars

Tue Apr 8, 2008 2:24pm EDT
SAO PAULO, April 8 (Reuters) - Brazil's central bank said on Tuesday it would hold an auction to buy dollars on the spot foreign exchange market as part of an ongoing effort to boost international reserves.
The Brazilian real BRBY was 0.23 percent stronger at 1.7 per dollar shortly after the announcement.
The central bank has been buying dollars almost daily since October, helping lift Brazil's reserves to about $195 billion. (Reporting by Silvio Cascione; Translated by Elzio Barreto, Editing by Chizu Nomiyama,)