Tuesday, 27 October 2020
Home Tags Exchange rate

Tag: exchange rate

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...

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...

Devaluating The Colon Divides Candidates

Devaluating the colon is the major difference, a clash point, between the economic teams of the Citizen Action Party (PAC) and Partido National Restoration (PRN), in the final stretch of the second round of elections. The PAC (ruling party) proposes to maintain the current flexibility...

TRENDING - 10 MOST POPULAR

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.