The real depreciated 0.6 percent to 3.9999 per dollar at 9:24 a.m. in Sao Paulo. Swap rates on the contract maturing in January 2017, a gauge of expectations on interest-rate moves, rose 0.14 percentage point to 15.73 percent.
Brazilian policy makers stepped up support for the real last week after the currency reached record lows. The central bank resumed new sales of swap contracts for the first time since March, and the central bank president and the finance minister said separately that Brazil could use part of its $370 billion in international reserves to curtail instability.
Brazil Energy Insight 
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