Iceland c.bank intervenes to help falling crown

ICELAND - Iceland's central bank intervened on the local foreign exchange market on Mar 26, 2001 for the second straight session to support the falling Icelandic crown, but with limited success.

Dealers said the central bank bought 1.6 billion Icelandic crowns for some $18 million, the same amount as on Mar 23, to protect the currency's daily trading band, set according to a inverted trade-weighted index.

The intervention, the sixth since the start of the 2001, initially boosted the crown to 122.3

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