Operation targets accredited institutions and proposes sale and purchase of dollars in a post-fixed Selic modality
O (Brazilian Central Bank) announced, this Friday (Dec 13, 2024), that it will hold a new sales auction combined with the United States dollar purchase auction next Monday (Dec 16). The event will take place in the post-fixed Selic modality, according to official communication no. 42,549. Here is it (PDF – 93 kB).
The auction targets institutions accredited by the Central Bank, known as dealers exchange rate, and will accept proposals of up to US$3 billion. Bids will be received at a five-minute interval, from 10:20 am to 10:25 am, on the day of the auction. The exchange rate for the sale of dollars will be based on the USDBRL rate, according to the Ptax bulletin at 10 am on the day of the auction.
Sales operations by the Central Bank will be settled on December 18, 2024, while purchase operations will be settled on March 6, 2025. This interval allows the accrual of interest in the period, characterizing the post-fixed Selic modality.
Each institution may submit up to 3 proposals for each auction, with the exchange coupon rate expressed to up to six decimal places. Proposals can be sent via message LEI0002 or via the online platform at within the period stipulated for accepting proposals.
The result of the auction will be communicated through BC Correio and by message LEI0004 to all institutions authorized to operate in exchange. LEI0003 messages will be sent to dealersindicating which proposals were accepted or informing about non-acceptance of proposals.
Central Bank holds surprise auction and dollar slows
This Friday (Dec 13), the BC will hold a dollar spot auction, with sales totaling US$845 million. There were 9 proposals accepted from 2:41 pm to 2:46 pm.
The US currency was rising during the day. It reached a maximum of R$6.077. The increase slowed down after the auction. The price dropped almost instantly to R$6.016 around the time of negotiations.
In total, the monetary authority offered US$1 billion to enter into circulation. In other words, not all of the value was auctioned. Here’s the of the statement (PDF – 76 kB).
