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Currency sales to curb rising Dollar total $299 million

March 12, 2014 by Staff News Writer

Sales of dollars by the central bank to halt the decline of the colon has reached $299.4 million, following injections of $7.4 million on Tuesday and $41.8 million on Monday. Central bank reserves stand at $7.1 billion.

Sales of dollars remove colones from circulation and put upward pressure on interest rates in that currency. According to the President of the National Council of Financial System Supervision, José Luis Arce the removal of liquidity in colones is not causing problems in the local currency market.

Source La Nacion

Related articles:

  1. Central Bank intervenes to curb rising dollar
  2. Central Bank stepped in with $ 31 million to prevent further rise in the dollar
  3. Central Bank intervened with $4.9 million to stabilize dollar market
  4. Central Bank has $7.2 billion in reserves to prevent steep rise in dollar
  5. Dollar closed at ¢528.93 (Sell Colones) on Thursday
  6. Dollar price reaches 512.11¢ on Wednesday

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