Saturday 25 September 2021

Are the days of the US dollar below ¢600 no more?

The last time we saw the dollar exchange below ¢600 colones was last September. A sharp variation is not expected with the eventual arrival of IMF dollars later this year.

Paying the bills


Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...

Vaccinations face unfounded fears over AstraZeneca dosages

QCOSTARICA - The goal of immunizing 500,000 people over...

There are potholes and then there are potholes!

QCOSTARICA - Imagine your vehicle being devoured by a...

Today’s Vehicle Restriction September 25: “EVEN” ending plates CANNOT circulate

QCOSTARICA - For today, Saturday, September 25, vehicles with...

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

QCOSTARICA - The political fractions, except that of the...

No National Census in 2022!

QCOSTARICA - The Instituto Nacional de Estadística y Censos...
Paying the bills


QCOSTARICA – The last time we saw the dollar exchange below ¢600 colones we have to back to September 18, when one US dollar was ¢599.86 colones.

According to Karla Arguedas, manager of Advisory & Strategy at Prival Securities, Costa Rica’s Central Bank will manage the current level so as not to affect exporters and entrepreneurs in the tourism sector

Today it is common to find it at the threshold of ¢620. Is this a new normal to which we must get used to?

- Advertisement -

Specialists can agree, as some consider that it is time to adapt and others place their hopes that it will recover, that drop below the ¢600.


“We need to have a very accelerated economy and interesting international connections so that many more dollars arrive than are demanded to return to those levels. The truth is I see it difficult,” says Daniel Suchar Zomer, University Professor and Finance Broadcast Analyst.

For others, it could return to levels below ¢600 to the extent that large amounts of external capital enter, through loans (as may be the agreement with the IMF), tourism, exports, or investment, as is the case of Karla Arguedas, manager of Advisory & Strategy of Prival Securities.

However, it is not expected that there will be an early return to the dollar below ¢600, because more than a permanent impact from the Covid-19 pandemic, the current level of the exchange rate obeys structural issues in the local market.

The first thing to understand is that when the exchange reaches the current figure, it is generally because it was at a competitive price and motivated demand to buy foreign currency, this is underpinned by the purchases made by the Central Bank in the Monex, be it to meet the needs of the non-financial public sector or to replenish reserve levels, Arguedas explained.

- Advertisement -

The fact that the most dynamic sector of the economy, such as the exporter, loses competitiveness in the event of a fall in the dollar also explains why the currency exchange remains at current levels, amid the crisis facing the economy.

The same happens with tourism, which would be affected by a downward movement in the exchange rate and would make it difficult to recover.

That is, even with the arrival of more foreign currency, the Central Bank would be managing the exchange rate so that it does not affect either sector.

- Advertisement -

See Exchange rate of purchase and sale of the US dollar




- Advertisement -
Paying the bills
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Costa Ricans lose hope of a low dollar

QCOSTARICA - In December, Costa Ricans expected the dollar exchange rate...

TSE rules out political party donations in cryptocurrencies

QCOSTARICA - The Tribunal Supremo de Elecciones (TSE) - Supreme Elections...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.