Thursday 9 February 2023

Economist warns that the fall of the dollar would cause national products to be more expensive than imported

Not only the tourism and export sector affected

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Dollar Exchange

¢577.12 Buy

¢586.15 Sell

8 February 2023 - At The Banks - BCCR

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QCOSTARICA – Economist, Gerardo Corrales, warned that the drop in the dollar exchange rate would not only affect the country’s tourism and export sectors, but also national producers.

According to his analysis, in five months Costa Rica has been the country in the region that has become more expensive, with a variation of the Real Exchange Rate Index of -12.2; while for Colombia the result is 17.9%.

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What causes this? Corrales, speaking to Monumental Radio, indicates that some national products could be more expensive than imported ones.

The expert commented that this situation would affect unemployment levels.

The Banco Central de Costa Rica (BCCR) – Central Bank o- asked the population and economic sectors for “tranquility” in the face of the recent downward behavior of the dollar exchange rate.

So far this year, the dollar has had a decrease of almost ¢30 colones. It opened the year, on January 1 at ¢594.17 for the buy and ¢601.99 for the sell. This morning, January 20, the Central Bank reference rate is ¢565 and ¢570.17, respectively.

 

 

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