Brazil central bank to roll over currency swaps expiring in May

Brazil's central bank said on Thursday it would hold auctions starting on March 1 to roll over $11.4 billion in traditional currency swaps maturing on May 2.

The central bank said in a statement that daily traditional swap auctions would be held as long as necessary for the expiring stock to be fully renewed.

The central bank usually seeks to provide currency hedging and maintain liquidity conditions for the market with its rolling policy.