Costa Rica's currency falls

Since last week there has been downward pressure on Costa Rica's currency, the colon, and this has been reflected in an increase in the price of the dollar.

Tuesday, July 15, 2008

Between last Thursday and yesterday the price of the colon fell from 522.50 per dollar to 535.25, a decline of 12.75 colons.
Last week the currency traded as high as 516 per dollar, but yesterday it closed at 529.25.
One reason for the decline: companies have started to increase inventories of imported goods to ensure a supply of goods for the Christmas season.



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More on this topic

Costa Rica: Dollar Price keeps upward trend

November 2016

The price of the US dollar against the Colon reached its highest value in the last two years, following an upward trend which has been noted since March this year.

On November 7 the exchange rate on the wholesale Monex market quoted a dollar at 557.22 colones, falling slightly to 557.01 a day later. The upward trend has been maintained without significant changes since the end of March, mainly due to a lower supply of dollars in the market.

Dollar Goes Up in Costa Rica

September 2011

In the Monex wholesale market the price of the currency came to 515.29 colones.

Dollar purchases by public agencies appears to be the reason behind the new increase seen in the exchange rate in recent days.

Specifically, the need for dollars by non-banking public entities, from whom the central bank acquires its foreign exchange, was the main reason for the rise, it does not seem to have been affected by other reasons from a macroeconomic point of view that may be impacting on the exchange rate.

Banguat Intervenes to Prevent Dollar Appreciation

August 2009

Yesterday Banguat sold $33.5 million, to curb the increase of the dollar, as it has been doing in the last months.

In the interbank market, the dollar reached a record price of Q8.30.

"In the last weeks several economic analysts have pointed out that there is high speculation in the currency market, because big exporting companies choose not to sell their dollars, or trade a minimum just to cover their operations, because they know that if they wait a few days they'll get better prices for their dollars, and earn a profit", reported Elperiodico.com.gt.

The US dollar is at its strongest in four years in Guatemala

January 2009

The dollar was being traded at Q7.90 per $1 in the interbank market.

The elperiodico.com.gt reports that "according to various bank negotiators, the closing of external lines of credit for local banks, as well as the reactivation of the demand for the currency by companies which have restarted their operations after the holidays and the payment of letters of credit, after the Christmas season, are influencing the increase in the price of the US dollar.

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