Dollar Price: Greater Stability Expected

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.

Friday, January 10, 2020

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.

You may be interested in "Costa Rica: Dollar Price Falls ₡16"

For the economist Luis Mesalles, "... With the entry of funds from foreign debt, not only the Eurobonds that have just entered, but also those that are being negotiated, and a recovery of confidence in the government ... there will be fluctuations, but in smaller ranges."

If no further external financing is approved, economist Norberto Zuñiga told Nacion.com that "... But even in the worst case, that Congress does not approve additional external financing, an unlikely scenario, the exchange rate should not experience a large devaluation."

Experts agree that in a context where the BCCR starts the year with high reserves and in cases of abrupt fluctuations, the monetary authority will have the capacity to intervene in the market.

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

CentralAmericaData is the leading B2B market research company in Central America. We specialize in compiling, validating and analyzing data from the economic activities in Central American and South American countries, along with Mexico. We provide our clients and companies with presence in the region relevant information to define business strategies and make adequate decisions. Learn more about our services here



More on this topic

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.

Uncertainty Over Dollar in Costa Rica

June 2014

A proliferation of articles, reviews and editorials on the exchange rate is the best example of the prevailing concern in a market waiting for a clear definition of the exchange rate policy by the Central Bank.

Editorial

In recent weeks, and while the President of the Central Bank of Costa Rica (BCCR) is denying it , warnings have been given over interventions in the foreign exchange market by the monetary authority.

The Central Bank of Costa Rica and the Exchange Rate

February 2014

The monetary authority explains the procedure for defining interventions in the exchange market, without disclosing specific criteria.

From a communiqué by the Central Bank of Costa Rica:

EXCHANGE INTERVENTION BY THE CENTRAL BANK DUE TO VIOLENT EXCHANGE RATE FLUCTUATIONS

 close (x)

Receive more news about Economics

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


Incredible - Costa Rica, 5.6 ha, 30 min- San Jose, $99,000

Incredibly Low Price- $99,000, Public Road, 6 min hyw #27, 20 min Atenas, 30 min to San Jose and Beach - spring, creeks, pasture, forest, 5 building sites.
Incredibly Low Price, Just look at what you get!!! Just...

Stock Indexes

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

Commodities

(Feb 19)
Brent Crude Oil
58.31
Coffee "C"
108.9
Gold
1,608
Silver
18.345