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Brazil's Banco do Nordeste launching 250M-real note repurchase plan

Banco do Nordeste do Brasil SA's board approved a proposal to repurchase 250 million reais of the company's capital notes.

The repurchase program is expected to run until the end of 2019.

The program is subject to the approval of the Brazilian central bank.

As of Oct. 7, US$1 was equivalent to 4.08 Brazilian reais.