Wednesday 31 May 2023

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

The dollar exchange rose ¢3.12 on Thursday and accumulated an increase of ¢5.34, in the two days after the Central Bank announcement to buy treasury bills

Paying the bills

Latest

Bilingualism inserts professionals in global markets

QCOSTARICA - In today's interconnected world, having bilingual skills...

Millions Left Unclaimed in Costa Rica’s Christmas Lottery

Participating in the chaos of the Gordo Navideño, which...

Costa Rica under green alert due to a possible increase in rainfall caused by tropical waves

QCOSTARICA - Tropical wave number 3 is expected to...

Costa Rica Fashion Week is gearing up for its 2023 edition

QCOSTARICA - Under the slogan "forever green", the Costa...

US Embassy San Jose will hold two ‘Super Saturdays’ in June

QCOSTARICA - The United States consulate in Costa Rica...

Rincón de la Vieja volcano had a “major eruption” this past weekend

QCOSTARICA - The Rincón de la Vieja volcano had...

Nicaragua continues to deny entry to Costa Ricans

QCOSTARICA - Around 100 Costa Rican tourists, in two...

Dollar Exchange

¢540.35 BUY

¢546.7 SELL

31 May 2023 - At The Banks - Source: BCCR

Paying the bills

Share

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 rise stopped or softened by an intervention of an additional US$41 million dollars by the Banco Central (Central Bank)

- Advertisement -

The sell rate of the currency started the session with at ¢581.50 for one US dollar, but from there the pressure was on reaching ¢585.69 by the end of the day.

The dollar exchange rate began to rise on Wednesday, September 26, after the announcement, on Tuesday, September 25, that the Central Bank agreed to finance the Ministry of Finance for an amount of ¢498 billion colones

In two days, the average price of the currency has risen ¢5.34.

Economist Alberto Franco explained that although it is limited and temporary, the use of Central Bank credit by the Treasury has flats that can have an impact on the trust and expectations of market participants.

The intervention of US$41 million made on Thursday by the Central Bank, with the sale of dollars, adds to Wednesday’s US$31.1 million.

- Advertisement -
Paying the bills
Avatar photo
Ricohttp://www.theqmedia.com
"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 Rica: Dollar will continue to fall

QCOSTARICA  - If you are thinking of traveling or making an...

Subscribe to our stories

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

%d bloggers like this: