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.

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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.

Source: Nacion.com

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