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Exchange rate pressures would hide end of the year seasonality when the dollar tends to fall

Throughout the year, the dollar exchange market experiences seasonal effects as a result of the demand or supply of the foreign currency. One of those moments would be between November and the beginning of the Christmas season in December. In that period, it is usual...

Banco Nacional and BCR lower rates and facilitate moving loans from dollars to colones

State banks, the Banco Nacional (BN) and Banco de Costa Rica (BCR), in a press conference on Friday, October 19, announced they are implementing measures to help people who are having problems paying their loans due to the difficult economic situation the country is...

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...

Dollar Exchange Takes A Dive This Week

The dollar exchange rate dropped almost ¢4 colones in less than a week, as the Colon is now exchanged at less than ¢570 per one US dollar. On Monday, the official dollar exchange reference rate of the Central Bank was ¢566.41 for the sale and...

Costa Rica Dollar Exchange Falling

In the last three months, the exchange rate of the U.S. dollar against the national currency, the Colón, in the wholesale Monex market dropped from an average of ¢580 per dollar at the beginning of September, to ¢566 on November 27. The main reason behind...

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 “YoYo” Dollar Exchange Rate: ¢18 Colones Drop In Three Days

Q MONEY - After hitting almost ¢600 Colones to one US dollar last week, the reference rate today is down ¢17.82 Colones, to ¢582.87. The drastic drop began Thursday morning when the Banco Central (Central Bank) said it would use up to US$1 billion dollars...

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 Dollar Exchange Rate Continues to Rise

Q COSTA RICA - In the first four months of the year the price of the dollar in the Monex wholesale market increased by almost 2%. At the beginning of the year the exchange reference rate set by the Banco Central (Central Bank) was ¢548.18...

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...

RECOPE Proposes Weekly Fuel Price Adjustments

Q COSTA RICA - Perhaps a public outcry, calling for the government to open the fuel market and some even calling for a complete break up of the state refinery, is the reason behind the Refinadora Costarricense de Petroleo (RECOPE) proposal for a change...

Costa Rica’s Central Bank Says It Will Not Change Its Exchange Rate Policy

(QCOSTARICA) Despite constant complaints from the export sector, the Central Bank (Banco Central de Costa Rica - BCCR) has been clear that a devaluation of the colon against the U.S. dollar would mean a reversal of its exchange rate policy. "A programmed of devaluation of...

Economists: “Dollar Exchange Rate Should Close The Year at 565 Colones”

(QCOSTARICA) The variation in the (U.S.) dollar exchange rate is one of the instruments that Costa Ricans, especially entrepreneurs use to make their projections. Foreigners living in Costa Rica keep a close eye on the dollar exchange rate also. Economists at Acobo Financial Group are...

Costa Rica’s Banana and Pineapple Producers Thinking of Leaving

Costa Rica's banana and pineapple producers are exploring leaving the country for cheaper production destinations such as Colombia, says the Camara de Exportadores -  the Chamber of Exporters - (Cadexco). The companies, all internationals, feel Costa Rica has become too expensive relative to other economies. "We...

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