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Dollar Could Hit ¢700 By The End of the Year

The dollar exchange rate could close 2018 and start 2019 in a range between  ¢650 and up to ¢700 colones for one US dollar. This according to economists consulted by the Q, who assured that dollar exchange rate will continue to rise due to the...

Increase in the Dollar Exchange

After three months of relative stability, the exchange rate of the U.S. currency compared to the Colón increased from ₡568 in mid-August to ₡575.67 this morning. Nacion.com reports that "...Although the variation is small, since it is only 0.64%, it breaks a stable period that...

Dollar Exchange Rate Expected To Move Starting In August

In a few months, the dollar exchange is expected to move, though experts are not clear if the move is upward or downward. The exchange rate that many see as 'stuck' or "artifically floated" is expected with the arrival of the new boss at the...

The Costa Rica Colon Among The 7 Coolest Currencies In The World

All travelers love exchanging money. Whether you do it at the bank before a trip or at an ATM when at your destination, looking closely at the unusual coins and bills is the first step towards getting to know the culture of the place...

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) -...

October 12 Holiday Moved To Monday 16th!

October 12 is a holiday in Costa Rica, the date to celebrate "Encuentro de Culturas" (Encounter of Cultures), changed from "Dia de la Raza", in the U.S. called "Columbus Day", celebrating the heritage, colonization, and cultural diversity of Latin America. Typically holidays in Costa...

Can You Imagine A Costa Rica Without All Those 0’s In Its Money?

The new to Costa Rica are often bewildered by all those zeros following the numbers 1 to 9 to in the local currency. Even after living in Costa Rica for almost two decades, I am still awed by figures in the tens, even hundreds...

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...

The USD…

Once again it is time to consider the US dollar as the one currency of Costa Rica. This duo currency (USD – Colon) makes no sense right now and for the foreseeable future. The national colon is outdated and, obviously, cannot be controlled in its...

Central Bank Says It Will Spend US$1 Billion To Shore Up The Colon

You Want Dollars? Have a billion! At a press conference and in the face of continued exchange rate hikes, as Banco Central de Costa Rica (Central Bank) Director of the Economic Division of the Central Bank, Róger Madrigal, said in a clear message that...

What Will Happen With The Rise In The Dollar Exchange?

The increases in the dollar exchange rate surprised many this week, who were confident that the dollar would not rise against the colon so fast. Although the reference rate this morning by the Central Bank (Banco Central) is still a couple of colones shy, many...

Central Bank Defends The Colon

(QCOSTARICA) In September the Central Bank (Banco Central de Costa Rica - BCCR) made an intervention in the exchange market through the sale of US$81 million in order to avoid upward pressure on the exchange rate. The US$81 million that the Central Bank sold on...

Dollar Exchange in Costa Rica

QCOSTARICA - After more than two years of virtual immobility, the dollar started a rise (more than 5 colones since Monday) this week, which has been linked to changes in external variables, accompanied by a concentration of credit in the US currency. Accompanying this depreciation...

Costa Rica Should Move Towards De-dollarization of the Economy, Central Bank President

QCOSTARICA - The president of the Central Bank of Costa Rica (Banco Central de Costa Rica - BCCR), Olivier Castro considers it a priority goal to de-dollarize the economy. Castro this week at a press conference expressed concern about the dollarization of credit of those...

Costa Rica Bridging Its Fiscal Gap

QCOSTARICA by Micheal Godfrey, Tax-News.com - Costa Rica said that government revenues grew at a faster rate than expenditure for the first time in four years in November. Revenues were up nine percent year-on-year, while expenditure had increased by 8.4 percent, the Finance Ministry said. The...

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,...

What’s An Udis?

(QCOSTARICA) The small community in the Pacific coastal town of Quepos, El Silencio, has its own currency. No joke, in El Silencio, the Udis (Unidades de Intercambio Solidario) is common, even preferred over the Colon. Why? The Udis was created in 2007 by the Coopesilencio R.L....

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