QCOSTARICA — The reference sale of the U.S. Dollar against the Costa Rica Colon dawned this Friday at ¢534.71, this being the lowest point since February 20, 2014, when the currency reached a reference sale of ¢533. A year ago it was ¢637.
On Thursday, the dollar exchange also reached its lowest value since 2015 in the Mercado de Monedas Extranjeras (MONEX) – Foreign Currency Market.
To give an example, US$1,000 on September 15, 2022, was exchanged for ¢637,000 colones; today the same US$1,000 is exchanged at ¢533,000, for a difference of ¢104,000 colones.
Not so good for someone who earns in dollars, but good if they have debt in dollars.
Though banks are closed today in celebration of Costa Rica’s 202 anniversary of independence, the exchange rate at the banks today ranges from ¢521 to ¢525 for the buy and ¢535 to ¢547 for the sell.
What will the dollar exchange do in the coming months? It’s anyone’s guess at this point.