Monday, 21 September 2020

Dollar In A Tailspin! Drops To May 2018 Exchange

The dollar exchange continues to drop, the official exchange rate this morning by the Central Bank set at ¢561.75 for the buy and ¢568.45 for the sell.

The rate is the lowest since May 2018, according to data from the Central Bank.

“The downward adjustment that the exchange rate has had is due to several factors: 1. The improvement in investor confidence after the approval of the Ley de Fortalecimiento de las Finanzas Públicas (Tax Reform), 2. The decrease in international interest rates, and  3. The expectation that the money coming from the Eurobonds will press the exchange rate further down,” said Hernán Varela, Portfolio Management Manager at Banco Lafise.

- paying the bills -

Since the beginning of 2017, the exchange rate has presented a variable trend, but it was at the end of last year when it reached a maximum of ¢628 due to the uncertainty generated by the plan fiscal; In 2019, the trend has been the opposite, as shown in the graph, this year the US currency has been falling almost every day.

Financial experts agree that, for now, there is no glimpse of any situation that could cause the dollar to rise sharply before the end of the year.

Click here for the latest exchange rate set by the Central Bank; Here for the rate at the banks (en ventanilla); Here for the Monex wholesale market.

- paying the bills -
- paying the bills -
"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

Do not be alarmed by dollar exchange at ¢600, it is a cyclical behavior

(QCOSTARICA) The behavior of the dollar exchange in recent weeks has...

Sinpe Móvil transfers grow by leaps and bounds in 2020

(QCOSTARICA) Money transfers in Costa Rica through the SINPE Móvil by...


Costa Rica at the gates of a tax on banking transactions

(QCOSTARICA) The economic stability proposal that the Government will present to the International Monetary Fund (IMF), to obtain financing of about USs$2.25 billion dollars,...

This is how the tax on ATM transactions would work

(QCOSTARICA) Costa Rica president Carlos Alvarado on Thursday outlined the proposed new taxes that would be imposed in order to obtain a US$2.25 billion...

What are the symptoms of COVID-19?

Some people infected with the virus have no symptoms. When the virus does cause symptoms, common ones include fever, body ache, dry cough, fatigue,...

Face masks could be giving people Covid-19 immunity, researchers suggest

Face masks may be inadvertently giving people Covid-19 immunity and making them get less sick from the virus, academics have suggested in one of...

What Kinds Of Games Do Costa Ricans Like To Play?

Costa Ricans take a lot of pride in sports and games. They are always ready to cheer on their national teams, especially when it...

Hard Rock Café closes in Guanacaste

(QCOSTARICA) The Hard Rock Café located in Playas del Coco, Guanacaste, closed its doors for good on Tuesday, September 15, after a drastic drop...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.