Investor uncertainty continues in Costa Rica

The sudden changes in the Costa Rican exchange rate and the rise of interest rates is creating uncertainty in the financial market.

Tuesday, July 29, 2008

A change of up to 18 colons per dollar in one day, as occurred two weeks ago, has important consequences for those who are betting on short-term positions in dollars and colons.
The exchange system used since October 2006, which leaves the dollar at the mercy of supply and demand of colons, has added insecurity to the market, which specialists say is a high-risk place to invest.

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Costa Rica: Exchange Rate Continues to Rise

May 2017

In the first four months of the year the price of the dollar in the Monex wholesale market increased by almost 2%.

At the beginning of the year the price of the US currency was 556.06 colones to the dollar, but on Tuesday May 2 it closed the day at 566.97 colones to the dollar, which is an increase of 10 colones in only four months. [GRAFICA caption = "Click to interact with graphics"]

Costa Rica: Monetary Policy Rate Up 1%

March 2014

The decision by the Central Bank seeks to ease inflationary pressure on exchange rate rises and may increase interest rates in the short term.

Bankers and analysts agree that interest rates in the financial system will tend to rise in the coming months, as inflation is being pushed upward by the recent movements in the exchange rate.

Costa Rica Central Bank Forced to Buy Dollars

December 2010

The Central Bank of Costa Rica (BCCR) reported the acquisition of $ 7.5 million to defend the lower limit of the band system governing the exchange rate.

The BCCR´s intervention on the foreign exchange market increased liquidity in Colones, which in principle, and given current conditions of the monetary system, it did not have the usual inflationary effect.

Costa Rica: Exchange Rate at the Center of Debate

October 2010

The Government thinks of three measures to change the deviation between the equilibrium exchange rate and the currently observed rate.

The measures would be to directly intervene the currency market, taxing transactions in Dollars and / or restrict the inflow of capital, as expressed by First Vice President Luis Liberman.

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