Q COSTARICA — The U.S. dollar in Costa Rica has shown a strong downward trend, reaching lows not seen since 2006, with exchange rates below ¢470.
Although the trend has been downward, reaching levels close to ¢470, reaching ¢450 will depend on the supply of dollars and interventions by the Banco Central de Costa Rica (BCCR) — Central Bank.
Key points about the exchange rate:
- Constant appreciation: The colón has experienced a sustained appreciation process, falling from ¢600 in 2023 to levels below ¢500 in late 2025 and early 2026.
- Influencing factors: The abundance of dollars in the market (due to foreign direct investment, tourism, etc.) causes supply to exceed demand, lowering the exchange rate.
- Forecasts: Some analysts expected averages close to ¢527 by the end of 2025, but reality has exceeded expectations with a greater drop.
Reaching ¢450 is technically possible if foreign currency inflows maintain their current pace, although monetary authorities typically take measures to prevent sharp declines that could affect export competitiveness and employment.
The Central Bank has intervened by buying surplus dollars to prevent violent fluctuations and replenish its international reserves.
As of today, March 10, 2026, the exchange rate of the US dollar in Costa Rica is at historically low levels, trading at ¢467.59 for the buy and ¢476.82 for the sell.
Reaching ¢450 is not a projection agreed upon by most analysts, who see it as more likely that the value will remain stable or experience slight downward pressure in the short term.
Daniel Ortiz, economist and director at Consejeros Económicos y Financieros S.A (Cefsa), believes that this abundance of dollars could continue until early April for two reasons. The first is Semana Santa (Holy Week), a time when more tourists arrive in the country, putting downward pressure on prices.
The second reason is that the deadline for paying income tax closes on March 16, which causes multinationals to bring in dollars to settle those obligations.
For Costa Ricans and businesses, the key will be adapting to whichever path the colon takes. Whether it stabilizes above or moves towards ¢450 per dollar, the currency’s trajectory will influence everything from prices at the grocery store to the cost of borrowing.