QCOSTARICA – And we’re back to the rollest coaster dollar exchange. Breaking the downward trend since the beginning of the year, the U.S. dollar this week rose ¢14 colones.
This Friday morning, the Central Bank reference rate for the dollar exchange is ¢564.58 for the buy and ¢570.60 for the sell.
The increase in the exchange rate occurs after exporters, businessmen in the tourism sector and other actors pointed out the problems of unemployment and economic recovery that the downward currency is generating.
Propping the dollar exchange is through the Central Bank’s policy of inteventions carried out in the Mercado de Monedas Extranjeras (Monex) – Foreign Currency ,to which this week there were two, one for US$39 million on Monday and US$37 million on Thursday.
“Although the alarms had gone off due to competitiveness issues, we also have to remember that in Costa Rica there are 11.6% of people unemployed, which implies more than 286,000 people. In this sense, the exchange rate impacts this sector of the population, since with a downward exchange rate, the tourism and service sectors lose money and will not hire,” financial analyst Daniel Suchar told La Republica.