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Costa Rica cenbank says sold $600 mln in reserves

Thu Jul 3, 2008 5:39am IST
 
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SAN JOSE, Costa Rica, July 2 (Reuters) - Costa Rica's central bank sold $600 million in international reserves between April and mid-June to boost the colon currency, the bank said on Wednesday.

The bank set a trading band for the colon in 2006, and widened the range in November with a floor of 498.39 colones per dollar and a ceiling at 562.83.

The central bank pumped $47 million into exchange markets in April, $373 million in May and $180 million in the first two weeks of June, the bank said the statement.

The currency fetched 522.81 per dollar on Wednesday, the central bank said. (Reporting by John McPhaul; Editing by Gary Hill)

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