Costa Rica has issued $1 billion in bonds, the second such issue in as many years.
Edgar Ayales, the finance minister, said that the money would reduce the pressure on the U.S. dollar in the internal market. The dollar went up at least three points to 540 colons Tuesday afternoon. It was up six points at some banks.
Ayales also said that the country was taking advantage of historically low interest rates. The 30-year bonds carry 7 percent interest. The money also will be used to pay off debts that mature in the next 12 to 18 months. he said.
The Ministerio de Hacienda said that more than 300 financial entities participated in the bond issue and that there were many more orders than could be filled.