Brazil's central bank to roll over swaps maturing in March

Brazil's central bank said it will hold auctions starting on January 28 to roll over traditional currency swaps due on March 2.The central bank usually seeks to provide currency hedging and maintain liquidity conditions for the market with its rolling policy.In a traditional currency swap, the bond pays the buyer the currency variation plus an interest rate.In return, the central bank receives the variation in the Brazilian benchmark interest rate, the Selic.