Costa Rica's reserves fall by $706 million in 3 months
Just in the last week Costa Rica's Central Bank reserves shrank by 31 million dollars, bringing the total reduction in reserves to 706 million dollars since April 30.
Wednesday, July 23, 2008
Pressures on the exchange rate could worsen if the effects of a reduced level of investment such as the one experienced in the first quarter were to continue, authorities say.
In less than two months the Central Bank of Costa Rica has seen a 10 percent reduction in its international monetary reserves.
The Central Bank's international monetary reserves continued their descent from September 29 and October 3, falling by $92 million.
The country's international monetary reserves were down $53.3 million last week, standing now at $3.931 million.
Central Bank reserves fell for the first time since November of last year to under $4 billion.
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