Basic Passive Rate Drops to 4.50%

The Basic Passive Rate continued to decline and for this week fell from 4.80% to 4.50%, while the Effective Dollar Rate also fell from 2.45% to 2.38%.

Wednesday, March 4, 2020

The Central Bank of Costa Rica published on Wednesday afternoon, March 4 that after registering considerable drops in the previous weeks, the Basic Passive Rate fell again, in this case by 0.30% and will remain at 4.50% until next Wednesday, March 11.

The Basic Passive Rate is an average of the collection rates in colons of the financial institutions at terms of 150 to 210 days.

The Central Bank also informed that after the 0.10% rise in the Effective Rate in Dollars (TED), registered last week, it fell again and will be at 2.38% during the next 7 days.

The TED is a gross weighted average of the interest rates of term deposits in dollars, of the different groups of intermediary financial entities.

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