Costa Rica: Dollar Price Falls ₡16

Because of the growing supply of dollars in the local market, which is explained in part by the income of $1.5 billion from the recent issue of Eurobonds, so far in November the price per dollar in the wholesale market has been reduced at ₡16,55.

Friday, November 22, 2019

Official figures from the Central Bank of Costa Rica (BCCR) report a downward trend in recent weeks, as between November 5 and 22 the price has dropped from ₡585,52 to ₡568,97, equivalent to a 3% variation. See full figures.

This fall in the price of the dollar occurs within the framework of the issuance of $1.5 billion of debt securities in the international market, which were sold last November 12.

Norberto Zúñiga, an economist, told Nacion.com that "... we are in a period of significant surplus in the private currency market, to which are added the income from the issuance of Eurobonds and other multilateral loans. In the end, what can happen to the exchange rate, depends exclusively on the decisions of intervention and purchase of foreign exchange that the Central Bank decides."

Zúñiga added that "... If the Central Bank wanted to leave only the exchange market, the price of the dollar could continue to fall. In my opinion, additional exchange appreciations have more disadvantages than advantages, especially because the largest currencies come from external indebtedness to continue financing current expenditures."

Do you need to keep track of the key economic indicators in Central America?

Request more information about our Regional Economic Monitor.








this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

Dollar Price: Greater Stability Expected

January 2020

During 2019, the price of the dollar in Costa Rica registered multiple fluctuations; however, for this 2020, such abrupt variations are not anticipated, since the Central Bank starts the year with reserves close to $9 billion.

Data from the Central Bank of Costa Rica (BCCR) show that between February 4 and November 28, 2019, the average dollar price in the Costa Rican market fluctuated considerably, ranging from ₡614.31 to ₡562.63.

Costa Rica: Intervention in the Foreign Exchange Market

November 2019

With the aim of cushioning the fall in the price of the dollar, which between November 5 and 25 was reduced in ₡18,35, in just two days the Central Bank intervened buying more than $30 million.

Of the $41.5 million negotiated at Monex during the November 22 session, the Central Bank of Costa Rica (BCCR) purchased $36 million, and of the $30.7 million negotiated on November 25, the monetary authority acquired $27 million.

Strong Dollar Income to Press Exchange Rate

July 2019

In Costa Rica, it is expected that the downward trend that has been showing the exchange rate since February will intensify in the coming months, when the $3.580 million begins to enter as a result of the issuance of Eurobonds and loans granted by external entities.

According to data from the Central Bank of Costa Rica (BCCR), between the beginning of February and July 30 of this year, there has been a fall of up to 44 colones per dollar, reporting a drop in the average rate in the wholesale market Monex from ¢613.87 to ¢570.13.

Dollar Price Goes Down

April 2019

In Costa Rica, the exchange rate of the U.S. dollar against the Colon began to rise in April, but from the 3rd to date, a fall of up to 12 colones per dollar has been reported.

After the average exchange rate against the dollar in the Monex wholesale market increased from ¢599.2 to ¢607.9 between March 29 and April 3, there have been continuous declines in the last few days, since as of this month's 17th it decreased to ¢595.8, one of the lowest levels of the year.

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Coffee Farm,20 ocean view lots, waterfalls, $100,000 profit

Has everything. Ocean views, waterfalls, 20 titled building sites, profits, end of the road privacy but close to everything. Less than an hour to shopping, medical services, beaches, airport.
Spring and summer all year, in the 70s – 80s, fresh...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jul 9)
Brent Crude Oil
42.7
Coffee "C"
98.600
Gold
1,804
Silver
18.880