A resolution by the National Council for the Supervision of the Financial System (Conasif) allows for the expansion of the services offered by the exchanges to clients. Now their clients have the option of buy or selling dollars to these entities.

Clients can benefit from more attractive exchange rates that those they would get if they purchased directly from another entity in the market.

Source: La República

More on this topic

Costa Rica: Free Entrance to Monex

October 2009

Starting today, there is no entrance fee for participating in the wholesale dollar market.

Banks, financing companies, currency exchanges, stock brokers, corporations and individuals can buy and sell U.S. dollars electronically in this wholesale market.

From Nacion.com: "The minimum transaction volume is $1.000.

Costa Rica: Monex Fee Waived

September 2009

Starting October 5, the entrance fee for the wholesale currency market Monex will be waived.

The market, operated by the Central Bank of Costa Rica, currently has an entrance fee of $427 (¢250.000), both for companies and individuals.

"Initially, the fee was going to be waived on August 1, but was postponed for September 14, in order to include digital signatures", reports Nacion.com.

Central Bank of Costa Rica opens exchange market to companies and individuals

November 2008

Starting January anyone that is properly registered will be able to buy or sell their dollars directly in Monex-Central Directo.

This will be possible since the Bank decided to integrate the Foreign Currency Exchange Market (Monex) to the Central Directo platform, which until now was used by companies and investors to make deposits at the bank.

Central Bank of Costa Rica promotes participation in exchange market

September 2008

The BCCR is pushing for greater participation in the wholesale money market known as the Foreign Exchange Market (Monex).

Two legal modifications are in process that will allow new participants to join the stock exchange system on their own and at their own risk; the other seek to expand the number of participants, to include others such as exporters and importers.