Q COSTA RICA – Throughout the week, the dollar exchange rate has decreased in all banks, with the sale price being quoted at ¢543 this Friday by financial institutions.
The Banco Central (Central Bank) has noted that the sale price has been adjusted downwards by an amount ranging from ¢6 to ¢16, which will remain stable over the weekend.
On the Foreign Currency Market (Monex), the average weighted rate of the dollar closed the week at ¢541.85, a decrease of ¢13.14 from last week’s closing rate.
Most of the wholesale currency trades are done on the Monex platform, with the minimum amount of each transaction being US$1,000.
Since mid-2022, the surplus of dollars in the foreign exchange market has caused the exchange rate to drop significantly, raising concerns from the productive sector, particularly exporters and tour operators. This increase in currency has also been reflected in the daily trades observed on Monex.
Recent months saw moderate volatility in the dollar exchange rate, which drew the attention of analysts and currency market participants.
According to data from the Central Bank published a week ago in the “Commentary on the national economy No. 6″, the volatility between May and June decreased in the face of a surplus in the private exchange market, which although still high, has decreased from previous levels”