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.