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Interventions by the Central Bank will be key so that Colon does not depreciate this yea

QCOSTARICA - The notorious influence of the Central Bank (Banco Central) to control the exchange rate is expected without stopping in the face of the currency devaluation last year and signals that it will continue. This is how economist at Economía Hoy, Gerardo Corrales, considers...

Colon will not depreciate in 2021, according to specialists

QCOSTARICA - What will happen to the dollar exchange rate in 2021? Will there be turbulence and uncertainty, or will there be relative calm? Investors, exporters, debtors, and wage earners would enjoy a stable dollar, close to ¢600 colones, according to analysts consulted by La...

High demand for the dollar resurfaces and interventions by the Central Bank return

QCOSTARICA - The U.S. dollar returns to the fore after weeks without shocks, and the demand for the currency has skyrocketed. Although it is understandable that at this time there is an upward behavior of the exchange rate, on Friday, December 4, the highest daily...

Dollar exchange now two and a half months above ¢600

QCOSTARICA - Since September 18, the price of the dollar exchange has remained above ¢600 and analysts do not expect a significant drop for the remainder of the year. This week the average exchange in the Monex market fell ¢4.88 and ended on Friday, December...

Pressure on dollar exchange begins to give ground: Will it be sustainable?

QCOSTARICA - After peaking on November 11, at ¢616.58 according to the Banco Central (Central Bank) average, the exchange rate seems to be losing ground, closing on Friday, November 21, at ¢605.99. The pressures seem to have diminished, so much so that during the week...

Dollar drops ¢10 this week due to year-end seasonality

QCOSTARICA - The dollar exchange fell ¢10.38 this week as a result of the traditional sales of foreign currency made by companies to pay bonuses and other end-of-year commitments. This is how two economists consider it: Noberto Zúñiga, from Ecoanálisis and the Academia de Centroamérica,...

Chasing the dollar

Pressure on the exchange dollar rate does not give way: November started on the rise. The dollar exchange this November 4, 2020, is ¢607.11 for the buy and ¢614.55 for the sell, set by the Central Bank. At the banks, the dollar exchange is ¢600 -...

Central Bank continues efforts to stop the rise in the dollar exchange

QCOSTARICA - The Banco Central de Costa Rica (BCCR) - Central Bank - continues its policy of intervention, in an effort to stop the rise in the dollar exchange. On Wednesday, October 28, the Central Bank injected US$13 million dollars in the Foreign Currency Market...

Central Bank makes biggest intervention of the year on the dollar exchange

QCOSTARICA - The Banco Central - Central Bank - made today, Tuesday, the single largest intervention in the Foreign Currency Market (Monex) so far this year, to try to alleviate the pressures that exist on the dollar exchange rate. According to the information, the Central...

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...

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