Saturday 25 September 2021

Slow Depreciation of Costa Rica Colon Continues

Paying the bills

Latest

Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...

Vaccinations face unfounded fears over AstraZeneca dosages

QCOSTARICA - The goal of immunizing 500,000 people over...

There are potholes and then there are potholes!

QCOSTARICA - Imagine your vehicle being devoured by a...

Today’s Vehicle Restriction September 25: “EVEN” ending plates CANNOT circulate

QCOSTARICA - For today, Saturday, September 25, vehicles with...

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

QCOSTARICA - The political fractions, except that of the...

No National Census in 2022!

QCOSTARICA - The Instituto Nacional de Estadística y Censos...
Paying the bills

Share

In the past week the Central Bank intervened in the market with U.S. $26.1 million, with the aim of stabilizing the price of the U.S. dollar,  defending what has been done so far and has given assurances that it will keep intervening when necessary.
In the past week the Central Bank intervened in the market with U.S. $26.1 million, with the aim of stabilizing the price of the U.S. dollar, defending what has been done so far and has given assurances that it will keep intervening when necessary.

(QCOSTARICA) The dollar exchange rate in the wholesale Mercado de Monedas Extranjeras (MONEX) market has gone from ¢535.9 per one U.S. dollar in mid-March to ¢553.9 in the first week of September this year.

Despite interventions by the Central Bank (Banco Central de Costa Rica – BCCR), the dollar exchange rate in Costa Rica has maintained a clear upward trend for several months, reflecting in a devaluation of 3% so far this year.

- Advertisement -

The rise in the U.S. dollar against the Colon is due to, according to the monetary authority, a “… lower amount of surplus currency in the private sector, which showed, in addition to traditional seasonal patterns in the foreign exchange market, the partial recovery in international prices of some raw materials from February this year (prices are still below levels seen a year ago) and the greater dynamism of imports. ”

According to figures of the Central Bank, between August 30 and September 6 the monetary authority intervened in the market with U.S. $26.1 million, with the aim of stabilizing the price of the U.S. dollar in the wholesale market.

The Central Bank defends what has been done so far and has given assurances that it will keep intervening when necessary.

In the view of the state entity “… the evolution of the dollar exchange rate since February 2015 has been consistent with macroeconomic conditions, with announcements by the Central Bank regarding the net demand of the nonbank public sector and based on the managed floating regime.”

With notes from the Banco Central and Centralamericandata.com

- Advertisement -
Paying the bills
Ricohttp://www.theqmedia.com
"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

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.