Banguat Intervenes to Prevent Dollar Appreciation

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

Friday, August 21, 2009

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

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Dollar Keeps Rising in Costa Rica

March 2014

The exchange rate in the wholesale market reached 558 colones per dollar, while at bank counters one dollar was being sold (on Wednesday March 5th) at 565 colones.

The price of the dollar in Costa Rica has not found an upper limit, trading at 565 colones per dollar at some bank counters, which is sixty colons more than earlier this year.

Will the Dollar be floated in Costa Rica?

January 2013

Aldesa discusses the possible directions that the monetary policy of the Central Bank of Costa Rica could take, while the influx of speculative capital accelerates.

From Pulso Bursátil, the Blog by Aldesa:

The Central Bank's dilemma ... floating exchange?

In recent weeks there has been speculation about possible changes in the Central Bank of Costa Rica’s (BCCR) monetary policy, in the light of the behaviour of the foreign exchange market at the end of 2012 and so far in 2013. The comments are gaining more weight as the limits established in the BCCR’s reserve accumulation plan get closer to being reached. The plan states that the entity can purchase, for the purpose of defending the lower limit of the bands, a maximum of U.S. $1.5 billion in 2012 and 2013. As of today the figure is U.S. $1.49 billion.

Banguat Intervenes to Halt Rise of the Dollar

September 2009

The Central Bank of Guatemala yesterday sold $24 million after the dollar reached new record prices.

A dollar is currently traded for Q8.29053, and in the last 12 months its price has increased 11.4%.

From "The Central bank intervened twice, each time with $12 million. However, the currency exchange market demanded $32.4 million from the bank".

The Upward Pressure Continues on the Dollar in Costa Rica

March 2009

The Central Bank of Costa Rica continues to intervene in the market to prevent the price from exceeding the upper limit of the current bands.

In its report "On the Market Today," Aldesa group reported that, "The Central Bank of Costa Rica continues to intervene in the foreign exchange market by selling dollars.

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