Costa Rica: New Exchange Rate Calculation

With the new methodology, the Central Bank intends to better approximate the weighted average exchange rate of the dollar from all exchange transactions in the economy.

Tuesday, July 4, 2017

From a statement issued by the Central Bank of Costa Rica:

Starting from July 4, 2017, the new methodology for the calculation of reference exchange rates (purchase and sale) will be in effect, as announced by the Central Bank of Costa Rica (BCCR) on April 27.

With the change in calculation, the coverage of the reference exchange rate indicator is increased, so that it more approximates the weighted average exchange rate of all foreign exchange transactions in the economy, collecting amounts and prices from all of the currency trading segments at exchange intermediaries.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Costa Rica: Increase in the Dollar Price

August 2018

After three months of relative stability, the price of the US currency compared to the Colón increased from ₡568 in mid-August to ₡571.6 at the end of the month.

Nacion.com reports that "...Although the variation is small, since it is only 0.64%, it breaks a stable period that was maintained from May 31 to August 14. In that period it remained very close to ¢568."

You Want Dollars? Have a billion!

May 2017

At a press conference and in the face of continued exchange rate hikes, a Central Bank executive in Costa Rica said that if the public wanted to continue buying dollars, they had billions there.

This morning on Thursday, May 25, the price of a dollar 600 colones at some bank windows surpassed, dropping back to 594 after an announcement by the Central Bank that it will intervene in the market with up to $1 billion.

Costa Rica: Change in Method for Calculating Exchange Rate

April 2017

The Central Bank proposes modifying the methodology to more appropriately approximate the average exchange rate of all exchange transactions in the economy.

From a statement issued by the Central Bank:

In accordance with Article 48 of its Organic Law, to determine the effective commercial value of foreign currency, the Central Bank of Costa Rica (BCCR) agreed to submit to public consultation a modification to the Regulation of Exchange Rate Transactions in order to vary the methodology for calculating the reference exchange rates for the purchase and sale of United States dollars.

Costa Rica: Intervention to Stabilize Exchange Rate

March 2017

In one day the Central Bank sold $30 million on the wholesale foreign exchange market in order to moderate the upward trend that had been seen in the price of the dollar against the Colon.

The transaction was made in order to prevent sharp fluctuations in the exchange rate, which since the beginning of the year has shown an upward trend in the wholesale Monex market. On Thursday, March 23, alone the Central bank sold $30.9 million, the highest figure of the year.  

ok