Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.750

-14.5%

Dec 5 9:30 AM EST

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To: DMaA who wrote (8630)	9/30/1998 10:35:00 AM
From: Steve Fancy	Read Replies (1) of 22640

Brazil's Central Bank lowers its reais mini-band Reuters, Wednesday, September 30, 1998 at 09:24 SAO PAULO, Sept 30 (Reuters) - Brazil's Central Bank lowered its mini-band on the real currency by buying dollars at 1.1760 and selling at 1.1870 reais per dollar in the commercial foreign exchange market, dealers said. The previous mini-band was set on Friday at between 1.1750 and 1.1860 reais per dollar. Wednesday's auction was the seventh 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 0.59 percent lower. In the last six months, the Central Bank has lowered the mini-band between 0.60 percent and 0.63 percent each month. Copyright 1998, Reuters News Service

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