Dollar on the Rise Again in Costa Rica
The currency is moving up again, synchronized to the end of the tax paying period, and after one month of relative stability.
Wednesday, September 16, 2009
On Monday 14, the dollar began the day valued at ¢581 in the wholesale market. As the trading session progressed, upward pressure began to affect its price. At the end of the day, $1.8 million were traded at the upper enforced limit, ¢596.05.
The tumble of 5 percent in Costa Rica's exchange rate in a single day has caused some observers to question the model of maintaining an exchange rate range, says Melizandro Quirós in a column in the web site Nacion.com.
After in the increase in the growth rate of the ceiling of the exchange band, the reference exchange rate continues to be close to the ceiling.
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).
The value of the dollar has risen by 11 percent against the Costa Rican colón over the last three months.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar