Real rises after central bank resumes intervention
The currency ended yesterday at 2.86 per dollar, compared with 2.90 a day earlier after the bank signalled it plans to spend 1.5 bln US$ this month on propping up the real.
In Buenos Aires, the Argentine peso extended recent gains, closing down 0.08 at a buy rate of 3.65/usd on the open market and down 0.09 at 3.60 at banks trading on the central bank's account.
The dollar came under pressure from dollar sales by exporters, as well as the positive reaction to news that general elections are to be brought forward six months to March 2003.
In Caracas, the bolivar also recovered, closing at 1,319.90/usd compared with 1,384.90 amid reports of heavy central bank intervention. Yesterday's rise was the bolivar's third straight day of gains.
In Montevideo, the Uruguayan peso was little changed against the dollar, changing hands in bureaux de change at around 21.
The currency has lost 16.2 pct against the dollar since being floated on 20 June.
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