Banco de la República can intervene in the currency-exchange market through the following instruments:
- Intervention through the auction of options of purchase or sale of foreign currency to the Bank, to control the volatility in the exchange rate.
- Intervention through discretionary auctions of options of foreign currency sales to the Bank, to accumulate international reserves.
- Intervention through discretionary auctions of options for the purchase of foreign currency from the Bank, in order to disaccumulate international reserves.
- Discretionary intervention through direct purchases or sales of foreign currency in the exchange market.
- Intervention through competitive auctions to buy US dollars in the foreign exchange market.