| Brazil's Central Bank To Hold Forex Swap Auction Wednesday
SAO PAULO (Dow Jones)--The Brazilian Central Bank will hold a reverse swap auction on the foreign exchange market Wednesday, the bank said in a statement. The monetary authority will offer 32,100 contracts, worth $1.55 billion, with four maturities between ranging between June 2007, and April 2009. The auction is scheduled to take place between 1500 GMT and 1600 GMT. Swap auctions allow investors to exchange paper linked to variations in the Brazilian real against the U.S. dollar for government paper linked to interest rates. The swaps allow foreign investors to enjoy Brazil's high interest rates without foreign-exchange exposure. Typically, the auctions weaken the real by reducing future dollar inflows. On Tuesday, the real closed at BRL2.028 to the dollar in spot contract trading on the Brazilian Mercantile and Futures Exchange after ending Monday at a six-year high of BRL2.0246 per dollar.
Renew Orleans art auction announced
Photographs by Herman Leonard, Annie Leibovitz, a Gibson guitar signed by the Edge of U2 included in items to be auctioned off. Renew Our Music, in collaboration with Auctioneer Bill Lynn and Danny Blackburn of Crown Auctions, is proud to present The Renew Orleans Art Auction, Wednesday May 2nd, 2007 at Dr. Bob's Studio on 3027 Chartres Street, in the Bywater section of New Orleans. Previews begin at 4:00 p.m.; Auction begins at 5:00 p.m. MC for the auction is comedian and actor Harry Shearer. The live and internet based auction will include several prints by Herman Leonard, including a 30x40 carbon print of "Louis Armstrong in Paris", 1960 (value of $6,500) and a 35x45 print of the iconic "Creole Mass" (value of $7,000), and an original Annie Leibovitz print.
Upcoming auction benefits Affirmations, Mosaic Youth Theater
FERNDALE - Antique hunters will find vintage furniture, china, built-in architectural features at an auction being held this Saturday at Detroit's historic El Moore building. The building is being renovated by El Moore condominiums which are offering the items for auction. A portion of the proceeds will go to Affirmations and Mosaic Youth Theatre of Detroit. Period antiques from the 1870's-1920's will be offered. Through a collaboration of El Moore Condominiums/The Alex Lofts on The Avenue, Affirmations and Mosaic Youth Theatre of Detroit, along with the support of Avalon International Breads and other area restaurants, the auction combines delicious food and rare antiques. "Detroit is our home town. We were born and raised here and felt that we wanted to give back to the community that gave so much to us.
Chili luncheon, auction to aid women's shelter
The Branson United Methodist Church Mission Team's eighth annual charity chili luncheon and auction will be held Saturday to benefit the Hiding Place Women's Shelter Options Pregnancy Services, 1208 W. Missouri 76. Luncheon will be from 11:30 a.m. to 12:30 p.m. A silent auction starts at 11:30 with the live auction to begin at 12:30. .
Brazil's Currency Rises as Traders See Dollar Inflows Growing
April 23 (Bloomberg) -- Brazil's real rose for a fifth day on speculation increased central bank dollar purchases are unlikely to stem the currency's rally. Banco Central do Brasil said on April 13 it would make its actions in currency markets less predictable and would no longer disclose in advance its reverse currency swap auctions. ``The central bank's reverse swaps may not have enough strength to bring the dollar higher because inflows coming into the country in the form of financial and commercial investments are growing,'' Alex Agostini, an analyst with Sao Paulo-based Austin Ratings, said in an interview. The real gained 0.4 percent to 2.0251 per dollar at 12:20 a.m. New York time. It fell less than 0.1 percent earlier today. On April 13, the real touched 2.0190 per dollar, its strongest since March 6, 2001.
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