On 21st November, the Brazilian central bank announced it will conduct up to two dollar auctions with repurchase agreements of up to $2 billion on Monday morning.

According to a statement issued by the central bank, the concurrent auctions will begin at the local time of 10.30 a.m., and it will seek to roll over contracts that are due in January.

As per the monetary authority, the two auctions will be repurchased on April 2 and May 5.

Through the roll-over auctions, the central bank will ensure that there is adequate liquidity in the currency market and that further demand for the U.S. dollars does not strain the Brazilian real.