The Central Bank has reacted to the need to reduce money in circulation as well as the early withdrawal of its certificates by upping their interest rate to 60%. The stampede that was observed last week as people sought to cash in their certificates revealed the darker side of the open market at the Central Bank. The monetary authorities will have to put ?more cheese in the trap? to hold onto state money, but the attraction of high rates boomerangs the printing of even more un-backed currency. On 5 May the interest rate reached 60.43% on Central Bank certificates. According to the Diario Libre, there is no business in the Dominican Republic that can produce this high a profit. Even so, the early withdrawals pushed up the exchange rate to US$52 pesos for one dollar.