Tuesday, 20 October 2020
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Do not be alarmed by dollar exchange at ¢600, it is a cyclical behavior

(QCOSTARICA) The behavior of the dollar exchange in recent weeks has not gone unnoticed, so far this year it has increased more than ¢25, on average. While six months ago it was trading between ¢570 and ¢575 for one US dollar, it is currently around...

Big savings in fuel purchases helps maintain abundance of dollars in the market

The strong savings that Costa Rica is having in the purchase of fuels due to the pandemic contributes to the internal foreign exchange market remaining in surplus, despite the reduction in income from tourism. According to data provided by Recope, the State entity that purchases...

Dollar Exchange Drops Below ¢570

The "yo-yo" dollar exchange today, Wednesday, April 15, is at a low of ¢564.13 for the buy and ¢569.29, after reaching a high of ¢579.50 for the buy and ¢587.37 on March 31, rebounding from a low of ¢560.66 for the buy and ¢570.33...

U.S. Dollar exchange rose ¢10.50 in last four sessions

The average price of the U.S. dollar in the Monex market, where amounts greater than $1,000 are traded, rose ¢10.50 in the last four sessions, going from ¢568.06, on Wednesday, March 18, to ¢578.64, this Tuesday, March 24. The Banco Central (Central Bank) decided to...

Greater Stability in Dollar Exchange Expected

During 2019, the price of the dollar in Costa Rica registered multiple fluctuations; however, for this 2020, such abrupt variations are not expected, as the Banco Central de Costa Rica (BCCR) - Central Bank - starts the year with reserves close to US$9 billion. Data...

Do not be alarmed by the exchange rate

During the last week, there have been important movements in the exchange operations of the Non-Banking Public Sector (SPNB), which has raised the concerns of Costa Ricans about the possible effects that this could have on the exchange rate. Experts agree that the purchases made...

Intervention in the Foreign Exchange Market

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...

U.S. Dollar Exchange Falls ¢16

Official figures from the Banco Central de Costa Rica (BCCR) - Central Bank  - show a downward trend in the dollar exchange in recent weeks, due to the growing supply of dollars in the local market, which is explained in part by the revenue...

Do you need to buy dollars? Exchange rate has fallen since November 5

The end of November could be a likely good time to buy dollars, specifically if you take into account the value of the currency since the beginning of the month. The price of the U.S. dollar in the Foreign Currency Market (Monex) registered a decline...

Will the dollar exchange rate be volatile at the end of the year?

If you have been following the dollar exchange rate, you will have noticed a sharp increase in the last couple of days. Eurobonds, government loan and the aguinaldo (annual bonus) would influence could make the exchange volatile at the end of the year, depending...

Colombia’s Peso Falls to All-Time Low Against US Dollar

Colombia’s currency devalued Monday to an all-time low against the United States dollar which topped at 3,480 COP, becoming the region’s weakest currency. Colombia’s currency (peso) declined in value Monday to an all-time low against the U.S. dollar. In February, the dollar reached to 3,379 COP,...

Concern Over Decline Of Dollar Exchange

Exports and tourism operators in Costa Rica have expressed concern over the decreasing trend in the dollar exchange, which as of this morning (July 23) is ¢569.91 for the buy and ¢576.82 for sell for one US dollar, a drop from ¢581.72 and ¢588.06,...

Dollar Price Keeps Dropping

A greater supply of dollars, high local interest rates and a decrease in imports of durable goods explain the decreasing trend of the U.S. dollar exchange rate in Costa Rica, which on June 18 reached the lowest level of the year. In 2018, the dollar...

Basic Passive Rate Keeps Rising

The Basic Passive Rate (Tasa Básica Pasiva in Spanish) keeps on rising, this week increased from 6.30% to 6.35%, while the Effective Rate in Dollars (Tasa efectiva dólares) decreased from 2.99% to 2.92%. The Banco Central de Costa Rica (BCCR) - Central Bank - publishes...

Dollar Exchange Shows Atypical Behavior in May

The dollar exchange this month of May is presenting an atypical behavior with respect to its historical behavior. Generally, between April and October, the price of the dollar rises because the market has less foreign currency, according to the study approximation of seasonal patterns in...

Dollar exchange reaches lowest for the year

Today, the dollar exchange set by the Banco Central (BCCR) is at ¢586.70 for the buy and ¢592.66 for the sell, the lowest in 2019 and a rate that was not seen since last October. Seasonal effects such as the high season of tourism, which...

Dollar exchange reinforces cyclical behavior with a low in mid-March

As it occurred three months ago, the dollar exchange fell this week, dropping ¢11.82 colones in the last several days. On December 15 last, the buy dropped to ¢593.21 and the sell to ¢598.69 after reaching a high of ¢605 / ¢610.79 weeks earlier. In the...

Dollar Exchange Closes The Year At ¢611.75

It's been a roller coaster for the dollar exchange the last couple of months, reaching a high of ¢631.30 on November 7, then dropping back down to ¢600 and staying there the past couple of weeks. However, the exchange rate began climbing again the last...

Dollar Tanks, Drops ¢19 This Week

Are We Being Played? The average price of the dollar in the wholesale market dropped ¢19.5 colones this week, while the Central Bank (Banco Central) reserves also continued to fall. The drop in the price of the dollar was influenced by a greater supply of...

Price of the dollar pushes up the tolls on the Ruta 27

This toon by Crhoy.com says it all. This is only the beginning!

Wall Street Sours on Costa Rica

(Bloomberg Business) In a part of the world known for guerrillas, drug runners and fleeing emigrees, Costa Rica has long been the exception. It was an oasis of tranquility and stability -- the Switzerland of Central America, some took to calling it. American retirees flocked...

Banks Throttle Back Slightly On The Dollar, As Spiral Upwads Continues

It's been a frantic week, a financial rollercoaster for the dollar exchange. In the week, the foreign currency appreciated by ¢18.39, opening last Friday at ¢601.25 and closing yesterday at ¢619.64 in the wholesale market. At some banks we saw a high of ¢630 colones...

Dollar Exchange Recorded On Monday The Highest Single Day Increase of 2018

The average price of the US dollar in the Monex wholesale market rose on Monday, October 29, ¢3.81, this is the most important daily variation recorded this year. In addition, the value of the dollar reached this Monday is 6.2% higher than that registered...

Dollar Crosses ¢600 Barrier

The dollar exchange  continued its rise this Friday, October 26, reaching above the ¢600 barrier, with the Banco Central (Central Bank) setting the sell rate for today at ¢601.40. The buy rate is ¢594.51. State and private banks were quick to respond. The rate at the Banco...

Central Bank has used $1.1 billion of reserves to avoid abrupt increases in the price of the dollar

The Banco Central de Costa Rica (BCCR) - Central Bank of Costa - reported Friday that it has been using its International Reserves to smooth the changes in the exchange rate. So far this year, the Central Bank has used (to October 12) US$1.101 billion...

Price of the dollar continues to rise, already hits ¢600 at banks

The price of the dollar exchange continues to rise and the sale value at state banks close to ¢600, it is above that at some of the private banks. This morning, the Banco Central de Costa Rica (BCCR) - Central Bank - set the sell...

Pessimism reigns among businessmen

Pessimism reigns among entrepreneurs, in terms of how the Costa Rica economy could close the year. It is expected that the government will reach an agreement to have the 38 votes that would legitimize the tax reform bill, which would give businessmen clarity, otherwise, there...

Central Bank intervenes with US$41 million to soften the rise in dollar exchange

The government is scraping the barrel to finance public spending, while the market reacts to a quick and sharp rise in the colon - dollar exchange rate. The upward pressure on the price of the dollar continued on Thursday in the wholesale currencies market, the...

Dollar exchange rate on the rise

The uncertainty generated by the deteriorating fiscal situation and the economic slowdown explain the increase shown by the exchange rate of the US Dollar compared to the Colón, which recorded twelve days of consecutive increases. According to the Central Bank (Banco Central - BCCR) authorities,...

Why did the dollar exchange rate rise in recent days?

The national and state banks posted an exchange rate of between ¢580 and ¢585, on the afternoon of August 31, for one US dollar. Today, Tuesday, September 4, the sell rate at the Banco de Costa Rica (BCR) and Banco Nacional (BN) was ¢588 and...

Increase in the Dollar Exchange

After three months of relative stability, the exchange rate of the U.S. currency compared to the Colón increased from ₡568 in mid-August to ₡575.67 this morning. Nacion.com reports that "...Although the variation is small, since it is only 0.64%, it breaks a stable period that...

Dollar Exchange Rate Expected To Move Starting In August

In a few months, the dollar exchange is expected to move, though experts are not clear if the move is upward or downward. The exchange rate that many see as 'stuck' or "artifically floated" is expected with the arrival of the new boss at the...

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