The volatility that has been seen in the exchange rate in Costa Rica in recent days has increased the spread between buying and selling dollars at the counters of financial institutions.

"'Given the much more abrupt sudden movements (in the exchange rate), there is an increased likelihood that we'll buy cheap dollars and after a few hours we'll sell them expensively. In order to cover this risk, the differential is increased," said Bernardo Alfaro, deputy general manager of Finance and Risk at Banco Nacional.

Public banking is where the differential has varied the least. Yesterday it stood, on average, at 13 ¢. While the same day, two months ago, it was ¢11.50.

In the case of private banks, in the same period it rose from ¢12.43 to ¢16.09, according to information reported by financial institutions to the Central Bank. "

Source: Nacion.com

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