QCOSTARICA – Seeing the selling price of the U.S. dollar below ¢695 became a thing of the past. According to financial analysts, this trend will continue into the second half of the year.
July started with a sell reference rate by the Banco Central de Costa Rica (BCCR) – Central Bank of ¢693 and in the first few days. Today it stands at almost ¢695 (¢694.78), with the dollar trading at ¢698 at the private and state banks.
The interventions of the BCCR have been constant to prevent the dollar from exceeding the threshold of ¢700, however, this caused the most important financial entity in the country to have reserves at their lowest point in the last nine years.
Financial authorities point out that there is little that can be done with the increase in the cost of living and the exchange rate, taking into account that both factors depend on what happens in Eastern Europe between Russia and Ukraine.