Saturday 4 February 2023

High demand for the dollar resurfaces and interventions by the Central Bank return

Paying the bills

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Dollar Exchange

¢567.55 Buy

¢576.23 Sell

4 February 2023 - At The Banks - BCCR

Paying the bills

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QCOSTARICA – The U.S. dollar returns to the fore after weeks without shocks, and the demand for the currency has skyrocketed.

Although it is understandable that at this time there is an upward behavior of the exchange rate, on Friday, December 4, the highest daily volume (US$146 million) demanded since October 23, 2018, was reported by Frecuencia Económica.

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This week, the dollar exchange has risen ¢6.8 colones (1.13%), reaching ¢608.48 in MONEX.

With the increased demand, once again the Central Bank is intervening in the exchange market.

The Cental made interventions in two days this past week after it had not done so since November 26, and before that on November 13.

Specifically, it intervened with $1.9 million on Wednesday and US$150,000 on Thursday.

Regarding the reference exchange rate, it is today, Saturday, December 12, at ¢609.91 for the sell and ¢603.18 for buy, however, it is not a reason for alert, since it is within the estimates by the Mercado de Valores (Stock Market) for the end of year, in a range between ¢600 and ¢610.

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