Costa Rica: Dollar is Quoted Above Set Bands
On Tuesday, the 10th, in the wholesale market (MONEX), the exchange rate reached ¢566.85, surpassing by one colón the set ceiling as determined by the BCCR (¢565.85).
Thursday, February 12, 2009
The exchange rate has remained pegged to the upper band in the last few weeks. This situation and the increase in the volume of transactions reflect the resurgence of the demand for dollars.
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.
The Central Bank of Costa Rica has purchased $57 million in the wholesale market to keep the exchange rate from falling below ¢500 per dollar.
The price of the dollar against the Colon has again started to fluctuate, after having spent several weeks at a relatively stagnant level.
The currency is moving up again, synchronized to the end of the tax paying period, and after one month of relative stability.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar