The US dollar is at its strongest in four years in Guatemala

The dollar was being traded at Q7.90 per $1 in the interbank market.

Friday, January 9, 2009

The elperiodico.com.gt reports that "according to various bank negotiators, the closing of external lines of credit for local banks, as well as the reactivation of the demand for the currency by companies which have restarted their operations after the holidays and the payment of letters of credit, after the Christmas season, are influencing the increase in the price of the US dollar.

More on this topic

Banguat Intervenes to Prevent Dollar Appreciation

August 2009

Yesterday Banguat sold $33.5 million, to curb the increase of the dollar, as it has been doing in the last months.

In the interbank market, the dollar reached a record price of Q8.30.

"In the last weeks several economic analysts have pointed out that there is high speculation in the currency market, because big exporting companies choose not to sell their dollars, or trade a minimum just to cover their operations, because they know that if they wait a few days they'll get better prices for their dollars, and earn a profit", reported Elperiodico.com.gt.

Guatemala: Queztal to US dollar exchange rate increases

January 2009

In one week the currency went from Q7.77 to Q7.91, the biggest increase since October 2004.

Elperiodico.com.gt reports: "The exchange rate is finally reaching its real levels, in previous years there was the feeling that it was overvalued," said Tulio Garcia, president of the Guatemalan Association of Exporters (Agexport), in comments about the recent upward tendency of the US dollar.

The dollar takes a break on Costa Rican markets

July 2008

After several days of sharp increases, the value of the dollar remained stable in Costa Rica's financial markets Thursday.

Banks reported that they were selling dollars at an average of 556.53 colons, only marginally up from the 556.27 colons of the previous day.

Pressure on Costa Rican money markets lifts the dollar

June 2008

As pressure build up on Costa Rica's money markets, the only way seems to be up for the US dollar.

The nation's current account balance is showing a large deficit, and flows of investment – both financial and direct – are down. "There's a combination of factors behind the rise in the dollar's exchange rate," said Andrés Víquez, manager of the Aldesa brokerage.

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