Wednesday, 25 November 2020

Majority of Businessmen Believe Dollar Exchange Rate May Be Over ¢560 This Year

Printing US dollar banknotes

QCOSTARICA BUSINESS ( Three quarters (74.1%) of businessmen said that during the year the dollar exchange will go over ¢560 colones, while 25.9% feel it will be lower, according to the latest Encuesta Barómetro de Empresas (Business Barometer Survey) conducted by Deloitte Costa Rica.

Some 31.1% of the respondents said that they believe that within the year the dollar exchange rate will be between ¢560 and ¢570 colones; 17.8% saying they expect the rate to be between ¢570 and ¢580; while 11.1% said they expected it between ¢580 and ¢590.

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A minority, 7.4%, said that this macroeconomic indicator will be between ¢590 and ¢600, while 6.7% said the exchange rate will be over ¢600.

The survey took in the response of 137 senior executives from national and international companies operating in the country with annual revenues of more than US$10 million dollars. The survey was taken between October 13 and November 7, 2014.

The Superintendent of Financial Institutions (SUGEF), Javier Cascante, said that the financial regulator is evaluating the situation debtors may face with any increase in interest rates and changes in the exchange rate, warning of the risks.


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“The environment in which the domestic financial system operates there are risks, within which highlights the possible increase in interest rates, both for local reasons such as the fiscal deficit and external causes as the decisions of the US Federal Reserve and behavior of the US economy,” said Cascante on Radio Plancha.

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