Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.372

-8.1%

3:57 PM EST

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To: hoyasaxa who wrote (8907)	10/8/1998 11:18:00 AM
From: Steve Fancy	Read Replies (2) of 22640

Brazil's Central Bank lowers its reais mini-band Reuters, Thursday, October 08, 1998 at 10:02 SAO PAULO, Oct 8 (Reuters) - Brazil's Central Bank lowered its mini-band on the real currency by buying dollars at 1.1780 and selling at 1.1890 reais per dollar in the commercial foreign exchange market, dealers said. The previous mini-band was set on Monday at between 1.1770 and 1.1880 reais per dollar. Thursday's auction was the second time this month the bank has nudged the mini-band lower and represents a 0.08 percent decline from the previous mini-band. The Central Bank usually changes the mini-band five to seven times each month. So far this month, the Central Bank has shifted the mini-band 0.17 percent lower. In the last six months, the Central Bank has lowered the mini-band between 0.59 percent and 0.63 percent each month. Copyright 1998, Reuters News Service

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