Monday 20 September 2021

Intervention in the Foreign Exchange Market

Paying the bills

Latest

Today’s Vehicle Restriction September 20: Plates ending in “1 & 2” CANNOT circulate

QCOSTARICA - For today, Monday, September 20, despite being...

Athleta women’s brand opened its first store outside North America in Costa Rica

QCOSTARICA - Gap Inc.'s Athleta brand announced the opening...

Carlos Alvarado: Vaccine retention ‘delays global solution and increases risk of new virus variables’

QCOSTARICA - Costa Rica President Carlos Alvarado showed his...

Top 8 Ways To Make Money in 2021

There are many legal ways to make money in...

Otto Guevara compares Daniel Salas with a dictator for sanitary measures

QCOSTARICA - The vehicle restriction of odds and evens...

Today’s Vehicle Restriction September 19: “EVEN” ending plates CANNOT circulate

QCOSTARICA - For today, September 19, vehicles with EVEN...

What are we celebrating?

QCOSTARICA - From the gallows humor department is the...
Paying the bills

Share

With the aim of cushioning the fall in the price of the U.S. dollar exchange, which between November 5 and 25 was reduced in ¢18,35, in just two days the Banco Central (Central Bank) intervened buying more than US$30 million.

Of the US$41.5 million negotiated at Monex during the November 22 session, the Central Bank purchased US$36 million, and of the US$30.7 million negotiated on November 25, the monetary authority acquired US$27 million.

This is the Central Bank’s response to the accelerated fall in the exchange rate, a situation that has been influenced to a great extent by the US$1.5 billion income from the recent Eurobond issue.

- Advertisement -

Central Bank data shows a clear downward trend in recent weeks, as between November 5 and 25 the price has fallen from ¢585.52 to ¢567.17, equivalent to a variation of 3%. See full figures.

On Tuesday, November 26, currency trading in the Foreign Currency Market (Monex) reached US$68.8 million, among the highest figures negotiated since 2014, only surpassed by a negotiation in June 2017 for US$75.9 million.

The strategy of the Central Bank is to intervene through operations with the Sector Público No Bancario (SPNB) – non-banking public sector – to influence the behavior of the price of the dollar.

“The appreciation of the colon against the dollars is a relief for the debtors in dollars that receive income in colones, but it affects the competitiveness of the country since it becomes more expensive for the foreign tourists and also increases relatively the value of the products of exportation,” reports La Nacion.

- Advertisement -
Paying the bills
Q Costa Rica
Reports by QCR staff

Related Articles

Costa Ricans lose hope of a low dollar

QCOSTARICA - In December, Costa Ricans expected the dollar exchange rate...

TSE rules out political party donations in cryptocurrencies

QCOSTARICA - The Tribunal Supremo de Elecciones (TSE) - Supreme Elections...

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.