QCOSTARICA – After reaching a maximum of more than ¢670 colones for one US dollar, the dollar exchange rate is expected to continue on its downward trend in the coming months. Ar least, that is how economists see it, taking into account the behavior of the currency after the national elections.
After the results of the elections, the dollar fell ¢7 in just one week, dropping to ¢661 according to the reference price of the Banco Central de Costa Rica (BCCR) – Costa Rica’s Central Bank.
Economist, Jorge Benavides, agreed with financial analyst, Daniel Suchar, that the sale of the currency could decrease by as much as ¢15 colones in the coming weeks and remain stable, although it will depend on the government’s decisions.
Currently, the Central Bank reserves are healthy and expected to grow.
Since February there have been no interventions by the Central Bank in the foreign currency market to stabilize the exchange rate.