Tuesday 25 January 2022

Exchange rate rose ¢5.81 in two days

At the banks the exchange ranged, this December 21, between ¢644 and ¢651

Paying the bills


Government stops legalization of medical cannabis without daring to talk about a veto

QCOSTARICA - Legislators described the government's arguments for not...

Costa Rica’s Catholic Church asks for ‘reflection’ on the Hemp and Cannabis Law

QCOSTARICA - The Catholic Church asked Costa Rica's Government...

67 centenarians have been infected with covid-19, most have already recovered

QCOSTARICA - Since the pandemic began in Costa Rica,...

Police shut down a mega-party of 1,600 people in a warehouse located in La Uruca

QCOSTARICA - The Fuerza Publica (National Police) intervened, this...

Vehicle restrictions start at 12 am from today

QCOSTARICA - Starting today,  Monday, January 24, the vehicle...

Costa Rican firm will convert passenger planes to alleviate cargo demand

QCOSTARICA - Costa Rican talent will, starting in March,...

Facebook experiments with Costa Rica reducing political content

QCOSTARICA - Meta, the multinational technology conglomerate, is carrying...
Paying the bills


QCOSTARICA – The average exchange of the U.S. dollar in the Monex market, where amounts of US$1,000 and up are traded, has risen, between Monday and Tuesday, ¢5.81 to reach ¢644.76 Monday.

Tourists exchanging currency at the Juan Santamaría Airport

This increase is also reflected at the banks where the sell ranged between ¢644 and ¢651.

The official exchange buy rate set by the Banco Central (Central Bank) to ¢638.13, and the sale price ¢645.49.

- Advertisement -

The rise occurs despite the fact that in the private sector the U.S. currency surplus has increased, which means that this month financial institutions have bought more dollars from the public than they have sold.

On the part of the public sector, the entities buy the currencies they require from the Central Bank and then it replaces them in Monex. On December 20 and 21, the monetary authority bought just US$900,000 in foreign currency in Monex. Last week it bought US$101 million.

What does show a significant reduction are international monetary reserves, which this month have dropped by US$250 million to US$6.53 billion, which may influence expectations.

For Rossy Durán, corporate finance manager at the State bank, the Banco de Costa Rica (BCR), the increase in the exchange rate is typical for the end of the year.

“In general, what can be seen is a greater demand for foreign currency in the Monex wholesale market, which has also translated into a greater requirement for foreign currency by economic agents and customers in general than when seeing the behavior in the market. In general, this is a typical behavior that occurs at the end of each year,” said Durán.

- Advertisement -
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

Use of PIN for card payments pushed to May

QCOSTARICA - The Banco Central de Costa Rica (BCCR) - Central...

Consumers must enter PIN starting in February

QCOSTARICA - Starting February 1, a new guideline by the Banco...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

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.