Monday 26 September 2022

Dollar Exchange Rose ¢5.38 Wednesday

Paying the bills

Latest

IMN forecasts “extreme” rains in the coming weeks

QCOSTARICA - The national weather service, the Instituto Meteorológico...

Cambronero to be closed for at least three months

QCOSTARICA - This Sunday, the Minister of the MOPT,...

You can see it coming …

QCOSTARICA (OPINION) Unlike the wall of debris and water...

Former UCLA basketball player Jalen Hill’s death investigation continues in Costa Rica

QCOSTARICA - Some of the details surrounding the death...

Costa Rica goal is 2 million tourists for 2022

QCOSTARICA - Although it is difficult to accurately estimate...

Basic Passive Rate rises again and upward trend will continue in the coming weeks

QCOSTARICA - Have you seen an increase in your...

Possible formation of a tropical storm would affect Costa Rica with more rains this weekend

QCOSTARICA - Faced with the possibility that tropical wave...

Dollar Exchange

¢634.43 Buy

¢640.39 Sell

24 September 2022 - At The Banks - BCCR

Paying the bills

Share

The dollar exchange keeps showing a strong upward trend and rose ¢5.38 in one single day Wednesday over Tuesday.

compra y venta dolarThe appreciation of the currency is due to internal and external factors. Locally, the increase is due to purchases by public entities in the wholesale market like the Monex, and at the same time the central government has not changed dollars (for colones), drying up the market.

External forces are increases in interest rates on international markets, coupled with the decision by the U.S. Federal Reserve not to keep throwing dollars into the market (to stimulate the economy), encouraging investors to pull their dollars from emerging countries.

- Advertisement -

By the close of business Wednesday, the purchase price for the dollar at banks in financial institutions was between ¢513 and ¢520 colones, while the sell ranged from ¢528 to ¢532.

This morning (Thursday) the dollar exchange is between ¢12 and ¢14 colones higher than at the beginning of the year.

Financial experts expect the dollar exchange to continue to rise in the short term, given the strong demand for the U.S. dollar by non-financial public sector companies like Recope (oil refinery) and ICE (energy and telecommunications). The El Financiero reports that this group purchased US$12 million on Monday and another US$11.2 million on Wednesday, higher amounts than last week, when there was no movement in the exchange rate.

A survey by economists in January, published by the Central Bank, indicates a 2.6% change for the coming 12 months, a rate that has already been overpassed.

Source: El Financierio

- 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

IMN forecasts “extreme” rains in the coming weeks

QCOSTARICA - The national weather service, the Instituto Meteorológico Nacional (IMN),...

Cambronero to be closed for at least three months

QCOSTARICA - This Sunday, the Minister of the MOPT, Luis Amador,...

Subscribe to our stories

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