Costa Rica's currency falls

Since last week there has been downward pressure on Costa Rica's currency, the colon, and this has been reflected in an increase in the price of the dollar.

Tuesday, July 15, 2008

Between last Thursday and yesterday the price of the colon fell from 522.50 per dollar to 535.25, a decline of 12.75 colons.
Last week the currency traded as high as 516 per dollar, but yesterday it closed at 529.25.
One reason for the decline: companies have started to increase inventories of imported goods to ensure a supply of goods for the Christmas season.



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More on this topic

Costa Rica: Dollar Price keeps upward trend

November 2016

The price of the US dollar against the Colon reached its highest value in the last two years, following an upward trend which has been noted since March this year.

On November 7 the exchange rate on the wholesale Monex market quoted a dollar at 557.22 colones, falling slightly to 557.01 a day later. The upward trend has been maintained without significant changes since the end of March, mainly due to a lower supply of dollars in the market.

Costa Rica: Dollar Price Falls 3% in a Month

July 2014

In the last 30 days the price of the dollar against the Colon went from 557 colones to 540.4 colones in the Monex wholesale market.

The decision to remove the non-fiinancial public entities from the wholesale market and less demand for foreign currency in recent weeks are the reasons for the drop of 17 colones in the price of the dollar.

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.

Dollar Goes Up in Costa Rica

September 2011

In the Monex wholesale market the price of the currency came to 515.29 colones.

Dollar purchases by public agencies appears to be the reason behind the new increase seen in the exchange rate in recent days.

Specifically, the need for dollars by non-banking public entities, from whom the central bank acquires its foreign exchange, was the main reason for the rise, it does not seem to have been affected by other reasons from a macroeconomic point of view that may be impacting on the exchange rate.

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