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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...

Kudos To President Carlos And Other Ramblings

Rico's TICO BULL - Kudos to President Carlos Alvarado. I was one of the many, or few, that never believed he could do what two presidents before him could. Not even Oscar Arias. Get passed in the legislative assembly the tax reform bill. It was...

My Two Colones

For the most part, people get extremely concerned when they hear the words recession, inflation or devaluation. Do not panic, all of these are natural stages of the economic cycle that every country has to go through over time. While it is important to have...

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...

Hello, Devaluation! Central Bank ‘Got Tired’ Of Spending Reserves To Curb Rise In The Dollar

On Wednesday, October 31, 2018, the dollar exchange moved from one to the next in a way it has never done before, up ¢10 colones in the wholesale market (Monex) and ¢15 in the retail market (banks). The dollar exchange reference rate posted this morning...

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...

Strong Demand Pushes Up US Dollar Exchange

The strong demand for the US dollar that remains in the foreign exchange market, compared to the available supply, raised this Tuesday, October 30, again, the average price of the dollar in the wholesale market, up to ¢609.90, a rise in ¢4.84 compared to...

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...

RECOPE Requests Increase In The Price of Fuel

The Refinadora Costarricense de Petróleo (RECOPE) requested on Friday an increase in the price of fuel from the regulating authority, the Autoridad Reguladora de Servicios Públicos (Aresep). The RECOPE cited the upward trends in the international market and the rise in the dollar exchange as...

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...

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...

Devaluating The Colon Divides Candidates

Devaluating the colon is the major difference, a clash point, between the economic teams of the Citizen Action Party (PAC) and Partido National Restoration (PRN), in the final stretch of the second round of elections. The PAC (ruling party) proposes to maintain the current flexibility...

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 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 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 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’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,...

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...

Slow Depreciation of Costa Rica Colon Continues

(QCOSTARICA) The dollar exchange rate in the wholesale Mercado de Monedas Extranjeras (MONEX) market has gone from ¢535.9 per one U.S. dollar in mid-March to ¢553.9 in the first week of September this year. Despite interventions by the Central Bank (Banco Central de Costa Rica...

Public Demanded More Dollars in Banks in First Week of Managed Float

COSTA RICA BUSINESS NEWS - In the first week of the managed float, Central Bank (Banco Central de Costa Rica - BCCR) authorities observed a varied behaviour in the exchange market: participants trading only with financial institutions, were demanding more dollars, while participants in...

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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