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Dollar Exchange Closes The Year At ¢611.75

It's been a roller coaster for the dollar exchange the last couple of months, reaching a high of ¢631.30 on November 7, then dropping back down to ¢600 and staying there the past couple of weeks. However, the exchange rate began climbing again the last...

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...

Price of the dollar pushes up the tolls on the Ruta 27

This toon by Crhoy.com says it all. This is only the beginning!

Wall Street Sours on Costa Rica

(Bloomberg Business) In a part of the world known for guerrillas, drug runners and fleeing emigrees, Costa Rica has long been the exception. It was an oasis of tranquility and stability -- the Switzerland of Central America, some took to calling it. American retirees flocked...

Banks Throttle Back Slightly On The Dollar, As Spiral Upwads Continues

It's been a frantic week, a financial rollercoaster for the dollar exchange. In the week, the foreign currency appreciated by ¢18.39, opening last Friday at ¢601.25 and closing yesterday at ¢619.64 in the wholesale market. At some banks we saw a high of ¢630 colones...

Dollar Exchange Recorded On Monday The Highest Single Day Increase of 2018

The average price of the US dollar in the Monex wholesale market rose on Monday, October 29, ¢3.81, this is the most important daily variation recorded this year. In addition, the value of the dollar reached this Monday is 6.2% higher than that registered...

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...

Central Bank has used $1.1 billion of reserves to avoid abrupt increases in the price of the dollar

The Banco Central de Costa Rica (BCCR) - Central Bank of Costa - reported Friday that it has been using its International Reserves to smooth the changes in the exchange rate. So far this year, the Central Bank has used (to October 12) US$1.101 billion...

Price of the dollar continues to rise, already hits ¢600 at banks

The price of the dollar exchange continues to rise and the sale value at state banks close to ¢600, it is above that at some of the private banks. This morning, the Banco Central de Costa Rica (BCCR) - Central Bank - set the sell...

Pessimism reigns among businessmen

Pessimism reigns among entrepreneurs, in terms of how the Costa Rica economy could close the year. It is expected that the government will reach an agreement to have the 38 votes that would legitimize the tax reform bill, which would give businessmen clarity, otherwise, there...

Central Bank intervenes with US$41 million to soften the rise in dollar exchange

The government is scraping the barrel to finance public spending, while the market reacts to a quick and sharp rise in the colon - dollar exchange rate. The upward pressure on the price of the dollar continued on Thursday in the wholesale currencies market, the...

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,...

Why did the dollar exchange rate rise in recent days?

The national and state banks posted an exchange rate of between ¢580 and ¢585, on the afternoon of August 31, for one US dollar. Today, Tuesday, September 4, the sell rate at the Banco de Costa Rica (BCR) and Banco Nacional (BN) was ¢588 and...

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...

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,...

Higher Dollar and Interest Rates Slowed Consumer Spending

The constant instability of the dollar exchange rate and the increase in interest rates, especially in colones, have slowed the growth of consumer spending so far this year. The El Financiero reports, "up to the first quarter of 2016, household spending grew steadily, reaching an...

ICE Reports 1st. Quarter Loss Of ¢33 Billion Due To Exchange Rate Fluctuations

Q COSTA RICA - Like many in Costa Rica whose income is in colones and debt in U.S. dollars, the state power and light company, the Instituto Costarricense de Electricidad (ICE), has been affected by the exchange rate policies of the Central Bank. With the...

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...

Colombia’s peso at 7-month high as global oil prices tumble

The Colombian Peso is trading above the 3,000 benchmark The Colombian peso lost 7 months of gains against the U.S. dollar, Tuesday, trading above the 3,000 peso benchmark as increased supply by several key oil producing nations hammered crude futures. Currencies of leading oil exporting nations...

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...

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...

Dollar Exchange Rate Keeps Climbing, It Has Already Reached ¢595

Q COSTA RICA - The Colon exchange rate against the U.S. dollar continues its upward trend, given the strong appetite that the market shows for the acquisition of the foreign currency. The average exchange rate recorded a change of ¢4.56 more for every dollar in...

Banks Fear Increased Requests To Change Loans From Dollars to Colones

Q MONEY - A hike of ¢9.64 colones in the dollar exchange market since last Friday alone has some bank customers scared, and banks anticipating a significant increase in the number of their clients interested in changing their loans from dollars to colones. The dollar...

Dollar Exchange Hit ¢580 On Tuesday

Q COSTA RICA - The dollar exchange on Tuesday by some banks reached ¢580 colones for the sell. For example, at 7:00pm, the dollar exchange at the private banks, BCT, Davivienda, Improsa and Scotiabank was ¢580 to one US dollar. At the Mercado Valores de...

Gasoline To Be More Expensive In May

Q COSTA RICA - On Monday the Refinadora Costarricense de Petróleo (Recope) made the request for an increase of ¢21 colones for a liter of super, ¢23 for regular and ¢6 for diesel. Typically the requests are made to the Autoridad Reguladora de los Servicios...

More Ticos Than Ever Are Travelling Abroad, Survey Reveals

Q COSTA RICA - The numbers are in, low airfares, the arrival of low-cost airlines and stable dollar exchange rate, has resulted in more Costa Ricans (Ticos) are travelling abroad. According to the information provided by the Instituto Costarricense de Turismo (ICT) - the Costa...

Central Bank’s Intervention to Stabilize Exchange Rate

Q MONEY - In the last several weeks we've seen the Dollar exchange rate go from 545/558 colones to one US Dollar in December to 555/568 to the beginning of this month and then in the last few days drop to today's 552/565. But why,...

Error In Wholesale Currency Exchange System Allowed Someone To Purchase U.S. Dollars At ¢5.555 colones

Q COSTA RICA NEWS - How would you like to buy one U.S. dollar at the rate of ¢5.555 colones? Someone(s) did this week, due to an error in the system in the first transaction of the day of the Monex wholesale currency market. The Mercado...

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...

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