Commodity Exchange of Costa Rica grows quietly

The entity is dedicated to the transaction of non-financial assets, and despite its low profile, it has managed to grow considerably.

Monday, August 18, 2008

"The objective of Bolcomer is to provide the possible to create markets for non-financial assets, and to promote a market that generates liquidity, thereby allowing those persons that are not financially bound to a bank to trade their commodities on the exchange," indicated Luis Campos, Executive President of the entity.

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Costa Rica: Implications of the Money Laundering Law Reform

April 2017

The amendment to the money laundering law approved in the first debate requires accountants, lawyers and real estate agents to report suspicious transactions made by their clients.

Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism was approved in a first debate by the Legislature on April 21. The new regulation establishes the obligations on professionals engaged in non-financial activities, such as lawyers, accountants, notaries and real estate agents, once the law is fully approved and enacted.

Dollar in Costa Rica: Wholesale Market Participants Excluded

June 2014

In an attempt to limit exchange rate volatility, the Central Bank has determined that non-bank public companies can no longer trade currencies in the Monex wholesale market.

As explained by the entity, the foreign exchange requirements of the Non Banking Public Sector will not be served directly by the BCCR using international reserves.

Price of Dollar Goes Down in Costa Rica

June 2014

A reduced demand for dollars by the nonfinancial public sector could be the reason behind the reduction of 7.5 colones in the price of the US dollar this week.

Since the last central bank intervention in the wholesale foreign exchange market on June 10, the dollar has shown a downward trend, being quoted at ¢ 546.47 per dollar at the close of June 20.

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