According to the figures of the Central Bank of Costa Rica (BCCR), between October 19 and November 4 the selling price of the dollar has shot up, rising from ₡605.24 to ₡614.55, which is equivalent to a 2% variation.

According to Rodrigo Cubero, president of the BCCR, in the current scenario of economic crisis generated by the outbreak of covid-19, three types of pressure are being presented on the exchange rate.

Crhoy.com reviews that "... The first pressure is of a seasonal nature. Always between April and November there is an upward trend that would begin to disappear in December with the entry of resources from exports and the opening of tourism."

The article adds that "... the second has to do with the effects of the pandemic and the third is related to the uncertainty of the fiscal situation."

For the Central Bank executive, the factor that could affect the exchange market in the long term is the fiscal issue. The other two would be diluted in the coming months.

Check out the "System for monitoring markets and economic situation in Central American countries", prepared by CentralAmericaData.

Source: Crhoy.com

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