Tuesday 13 April 2021
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Banco Central faces 2021 with less room to intervene in the exchange market

QCOSTARICA - After spending about one billion dollars last year, the Banco Central de Costa Rica (BCCR) - Central Bank of Costa Rica - starts 2021 with less room for maneuver than it had at the beginning of 2020 to intervene in the exchange...

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...

Dollar exchange closes 2020 at ¢615.43, the highest of the year

QCOSTARICA - This Wednesday, December 30, the U.S. dollar closed at the highest price of 2020 in the wholesale market. At the close of the last session of the year, this Wednesday, December 30, the currency reached a weighted average price of ¢615.43 in the...

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...

With the dollar rising, should I transfer my loan or my savings from the currency?

QCOSTARICA - The change in the exchange rate of the dollar against the colon is an aspect that causes many concerns and nervousness, not only due to the effects that this can generate on the economy (increase in fuel prices and raw materials, among...

Dollar exchange stable for two weeks

QCOSTARICA - The dollar exchange rate against the colon fulfilled two weeks of stability this Monday, after several weeks of increases. The exchange closed this Monday, October 19, at ¢603.49, in the Foreign Currency Market (Monex), administered by the Central Bank of Costa Rica (BCCR). The...

BCCR injected almost US$54 million in two weeks to avoid a further escalation of the dollar price

QCOSTARICA - The Central Bank of Costa Rica (BCCR) sold US$53.6 million in the wholesale market, in the last 14 days, to avoid a further escalation in the dollar exchange price. Prior to these two weeks, the Central Bank had only provided liquidity for US$17.4...

Fiscal uncertainty and seasonality influence an increase in the dollar exchange

(QCOSTARICA) The dollar exchange rate has maintained an upward trend for the past two weeks, since September 14, increasing ¢9.11 colones. Between the 14th and the 28th of this month, the average exchange in the Monex market increased reached ¢604.52 on September 28, while the...

The Costa Rican model for fuel prices to the consumer

One of the methods to take advantage of the current international oil market conditions and reduce fuel prices, the highest in the region, is to change the model of price calculation and fixing. But don't expect that any time soon. According to the data from Centralamericandata.com,...

What can we expect for the dollar exchange with the ‘coronavirus effect’?

The dollar exchange rate is currently under strong pressure, towards a rise driven by situations such as the fall in tourism and exports, which decrease the amount of dollars available in the country; while, on the downside, it is driven by the fall in...

Costa Rica Reduces Rates Again

For the seventh time this year, the Banco Central de Costa Rica (Central Bank) decided to reduce the monetary rates as a measure to stimulate economic activity, this time from 3.25% to 2.75%. With this adjustment, the Tasa de Política Monetaria (TPM) - Monetary Policy...

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...

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...

The Costa Rica Economic Recession – The “Elephant” In The Room

I’ve lived in Costa Rica for over twenty-one years, practicing law for seventeen of those years. I practiced law in Victoria, B.C, for fourteen years prior to moving to Costa Rica in August 1998. I would say, with that background, that I have a...

Costa Rica’s Monetary Policy Rate Falls Again

A “high uncertainty” in the global economy, associated to the tensions between the U.S. and China, together with the slow growth of production in Costa Rica caused the Central Bank of Costa Rica (BCCR) to reduce, for the fifth consecutive time this year, its...

Dollar In A Tailspin! Drops To May 2018 Exchange

The dollar exchange continues to drop, the official exchange rate this morning by the Central Bank set at ¢561.75 for the buy and ¢568.45 for the sell. The rate is the lowest since May 2018, according to data from the Central Bank. “The downward adjustment that...

Dollar Exchange Takes A Nose Dive!!!

The dollar exchange dropped almost ¢5 colones overnight, going from ¢578.21 for the sell and ¢589.05 for the buy on Monday, to ¢572.15 and ¢578.29, respectively, this Tuesday. On the Monex market, the dollar traded at ¢575.55 on Monday, ¢3.32 lower than Friday's close, almost...

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 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...

Kudos To President Carlos And Other Ramblings

Rico's TICO BULL - Kudos to President Carlos Alvarado. I was one of the many, or few, that never believed he could do what two presidents before him could. Not even Oscar Arias. Get passed in the legislative assembly the tax reform bill. It was...

My Two Colones

For the most part, people get extremely concerned when they hear the words recession, inflation or devaluation. Do not panic, all of these are natural stages of the economic cycle that every country has to go through over time. While it is important to have...

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...

Hello, Devaluation! Central Bank ‘Got Tired’ Of Spending Reserves To Curb Rise In The Dollar

On Wednesday, October 31, 2018, the dollar exchange moved from one to the next in a way it has never done before, up ¢10 colones in the wholesale market (Monex) and ¢15 in the retail market (banks). The dollar exchange reference rate posted this morning...

Exchange rate pressures would hide end of the year seasonality when the dollar tends to fall

Throughout the year, the dollar exchange market experiences seasonal effects as a result of the demand or supply of the foreign currency. One of those moments would be between November and the beginning of the Christmas season in December. In that period, it is usual...

Strong Demand Pushes Up US Dollar Exchange

The strong demand for the US dollar that remains in the foreign exchange market, compared to the available supply, raised this Tuesday, October 30, again, the average price of the dollar in the wholesale market, up to ¢609.90, a rise in ¢4.84 compared to...

Banco Nacional and BCR lower rates and facilitate moving loans from dollars to colones

State banks, the Banco Nacional (BN) and Banco de Costa Rica (BCR), in a press conference on Friday, October 19, announced they are implementing measures to help people who are having problems paying their loans due to the difficult economic situation the country is...

Dollar Could Hit ¢700 By The End of the Year

The dollar exchange rate could close 2018 and start 2019 in a range between  ¢650 and up to ¢700 colones for one US dollar. This according to economists consulted by the Q, who assured that dollar exchange rate will continue to rise due to the...

RECOPE Requests Increase In The Price of Fuel

The Refinadora Costarricense de Petróleo (RECOPE) requested on Friday an increase in the price of fuel from the regulating authority, the Autoridad Reguladora de Servicios Públicos (Aresep). The RECOPE cited the upward trends in the international market and the rise in the dollar exchange as...

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...

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