The Banco Central de Costa Rica (BCCR) – Central Bank – intervened Wednesday with US$39.8 million dollars in the Monex wholesale market to stabilize the exchange rate, the highest in one single day since September 25, 2013, when it sold a record US$57.4 million of its dollars.
Last week the Cental Bank stepped in four times (Monday, Tuesday, Wednesday and Thursday) with US$104 million dollars.
Despite the efforts of the Central Bank, the dollar exchange continues to rise.
During trading Wednesday in the Monex the dollar averaged ¢560.25, some ¢10 colones higher than last Friday (Feb. 28).
The colon has experienced a devaluation of 11.3% since the start of the year.
The official exchange rate set by the Central Bank this morning is ¢549.43 for the buy and ¢564.17 for the sell.