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Dollar exchange reaches lowest for the year

Today, the dollar exchange set by the Banco Central (BCCR) is at ¢586.70 for the buy and ¢592.66 for the sell, the lowest in 2019 and a rate that was not seen since last October. Seasonal effects such as the high season of tourism, which...

Dollar Tanks, Drops ¢19 This Week

Are We Being Played? The average price of the dollar in the wholesale market dropped ¢19.5 colones this week, while the Central Bank (Banco Central) reserves also continued to fall. The drop in the price of the dollar was influenced by a greater supply of...

Dollar Crosses ¢600 Barrier

The dollar exchange  continued its rise this Friday, October 26, reaching above the ¢600 barrier, with the Banco Central (Central Bank) setting the sell rate for today at ¢601.40. The buy rate is ¢594.51. State and private banks were quick to respond. The rate at the Banco...

Dollar exchange rate on the rise

The uncertainty generated by the deteriorating fiscal situation and the economic slowdown explain the increase shown by the exchange rate of the US Dollar compared to the Colón, which recorded twelve days of consecutive increases. According to the Central Bank (Banco Central - BCCR) authorities,...

“Monumento Los Presentes”

The "Momument Los Presentes" (Momument To Those Present), a sculptural set made of bronze composed of nine life-size figures, representing the Costa Rican peasant. The work personifies the typical inhabitants of the Central Valley, in danger of disappearing due to modernization; Paradoxically, they are represented...

Tourism Generated US$228 Billion In The Last Decade

Tourism has become the great machine for obtaining dollars for the Costa Rican economy, and the data supports the claim. In the last ten years, the tourism industry generated US$28 billion dollars and with the exception of 2009, due the consequences of the global crisis,...

Costa Rica Economic Activity Up 3.5%

The performance of the construction sector at the end of the year explained the acceleration registered in the country's economic activity up to December 2017. From a report by the Central Bank of Costa Rica (Banco Central de Costa Rica): The country's production of goods and...

New ¢1,000 Not Fake: New Series Issued With Changes

The Banco Central (Central Bank) confirmed on Monday, January 22, that the new ¢1,000 banknote in circulation is not counterfeit, as it has been reported on social networks, in particular, WhatsApp groups. The Central Bank reassured the new series 'B' bank notes, that replace the...

Costa Rica Colon / US Dollar Exchange Rate Expectations

It is expected that under current economic conditions, the local currency will depreciate on average 3.6% against the US dollar in 2018. The monthly survey on expectations of exchange rate variations up to December 2017 made by the Banco Central de Costa Rica (BCCR) -...

Costa Rica’s Central Bank Gets US$1 Billion Credit Line To Strengthen Foreign Reserves

Costa Rica's Central Bank (Banco Central de Costa Rica - BCCR) is getting a billion-dollar boost by way of a credit line from the Latin American Reserve Fund (Fondo Latinoamericano de Reservas - FLAR) to strengthen its international reserves position. The loan, requested in June,...

Rise in the Price of the US Dollar in Costa Rica

A rebound in demand for US dollars explains the increase of just over 5.36 colones registered in the price of the foreign currency with respect to the colon from the end of May to date. The price of the dollar in the wholesale Monex market...

U.S. Remittances To Costa RicaUp In First Quarter of 2017

According to data published by the Banco Central (Central Bank), as part of the quarterly balance of payments (which records Costa Rica's transactions with the rest of the world), the country's total remittance income in the first quarter reached US$127 million, which US$99 million...

Central Bank Changes Methodoloy For Setting Reference Dollar Exchange Rate

Q COSTA RICA - The Banco Central de Costa Rica (BCCR) - Central Bank - applied on Tuesday the change in methodology for calculating the reference exchange rate of the US dollar. The change generated a reduction in the exchange differential between the average buy...

New Measures to Control Rise In Dollar Exchange

The Banco Central de Costa Rica (BCCR) or Central Bank has raised the monetary policy rate, this time to 4.5%, and announced that it will hold auctions in the Monex wholesale market, in addition to reinstating electronic deposits made by the public through its...

Dollar Exchange Drops ¢6.48 In Response To Central Bank’s Announced Intervention

The dollar exchange rate fell ¢6.48 colones in the opening hours of Friday morning, closing the day with a drop of ¢7.65 colones, to ¢587.25 for the sell from the previous day's close of ¢594.47. In two days, the total reduction was ¢13.84, this due...

Dollar Exchange Rate Keeps Increasing in Costa Rica

Q COSTA RICA - In the last couple of weeks the Banco Central de Costa Rica (BCCR) - Central Bank - decided the dollar exchange continue an upward trend that has been seen since the beginning of the year. The Elfinancieriocr.com reports, the Central Bank...

Costa Rica Economic Outlook Up To May

THE Q - Although the gradual process of credit dedollarization continues, the Central Bank has warned that a preference remains on the part of savers for instruments denominated in foreign currency. From a statement issued by the Central Bank of Costa Rica (Banco Central de...

Banco Central Proposes Change in Method for Calculating Exchange Rate

Q COSTA RICA - Costa Rica's Central Bank (Banco Central de Costa Rica - BCCR) proposes modifying the methodology to more appropriately approximate the average reference exchange rate of all exchange transactions in the economy. The reference exchange rate (buying and selling the dollar) is...

Costa Rica Interest Rates Continue to Rise

Q COSTA RICA BUSINESS - The Passive Base Rate (Tasa Básica Pasiva in Spanish) rose from 4.55% to 4.60%, while the effective rate in dollars rose from 2.14% to 2.24%. The Central Bank of Costa Rica (Banco Central  or BCCR) last Thursday (February 2) raised...

San Jose Shows Off Its New Plaza de la Cultura

Q COSTA RICA NEWS - Frequent visitors to downtown San Jose will notice something different, the Plaza de la Cultura got a facelift. Street vendors and itinerant musicians will now have to compete with the new plaza for the attention of the thousands of pedestrians...

Costa Rica Dollar Exchange Keeps Upward Trend

(QCOSTARICA) The price of the US dollar against the Costa Rica Colon reached its highest value in the last two years, following an upward trend which has been noted since March this year. On November 7 the dollar exchange rate on the wholesale Monex market...

Costa Rica Colon The Most Stable Currency In Latin America

QCOSTARICA - While devaluations are occurring all around, the Costa Rica Colon, the country's currency, remains stable with the least variation against the U.S. dollar in the last 12 months. In August (10) last year, the dollar exchange was ¢545, while today it is ¢541,...

Costa Rica Central Bank Introduces Virtual Wallet (Monedero Virtual)

QCOSTARICA - Customers of the Banco Nacional (BN), Banco de Costa Rica (BCR) and BAC San José can, through Monedero Virtual (Virtual Wallet) now make SINPE transfers from the smartphones. The Banco de Central de Costa Rica (BCCR) - Central Bank -  on Thursday introduced...

Costa Rica Foreign Direct Investment Falls 21%

QCOSTARICA - The slowdown in economic activity in 2014 was also reflected in the decline in foreign direct investment, which reached $2.106 billion, 21% less than in 2013. From a report issued by the Central Bank of Costa Rica (BCCR): In 2014, operations with the external...

Costa Rica Central Bank Move Likely to Curb Dollar Loans

COSTA RICA NEWS (Fitch Ratings, Feb. 12) - The move by Costa Rica's central bank to adopt a managed floating foreign exchange rate regime along with the Superintendence of Financial Entities' (SUGEF) efforts to curb high dollarization in the banking system are likely to...

Economists Predict Increases In Exchange Rate Will Trigger Inflation

Increases in the price of fuel, electricity, local production and imported goods caused by the changes in the exchange will cause inflation to skyrocket in the coming months, is the belief of financial experts who are keeping a close eye on the actions of...

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