Following the entry into force of the Usury Law, the Central Bank published the maximum annual interest rates, which for credit operations in colons amount to 37.69% and 30.36% in dollars.
The law that was published on June 20, 2020 establishes the methodology to be used to set the maximum interest rate, and stipulates that the Central Bank of Costa Rica must publish on its website and on The Gazette, the maximum usury rates in the first week of January and July each year.
This week, the Basic Passive Rate continued to fall, from 3.8% to 3.75%, while the Effective Rate in dollars also fell, from 1.94% to 1.84%.
The Central Bank of Costa Rica published on the afternoon of Wednesday, April 15 that after registering considerable drops in the previous weeks, the Basic Passive Rate fell again, in this case by 0.05% and will remain at 3.75% until next Wednesday, April 23.
This week, the Basic Passive Rate continued to fall, from 4.35% to 4.15%, while the Effective Rate in dollars also fell, from 2.35% to 2.25%.
The Central Bank of Costa Rica published on the afternoon of Wednesday, March 25 that after registering considerable drops in the previous weeks, the Basic Passive Rate fell again, in this case by 0.20% and will remain at 4.15% until next Wednesday, April 1.
Between March 23 and 24 the price of the Quetzal vs. Dollar rose from Q7.67 to Q7.75, which is attributed to the expectations of a possible economic slowdown, due to the impact of the Covid-19 crisis.
The expectations of a decrease in the income of family remittances, the time that the international economy could be depressed and the component of fear in the agents, are other causes of the upward pressure that the exchange rate has reported in the last hours.
The Basic Passive Rate remained at 4.5%, while the Effective Dollar Rate reported a decrease, in this case from 2.38% to 2.35%.
The Central Bank of Costa Rica published on Wednesday afternoon, March 11, that after registering a decrease the previous week, the Basic Liable Rate reported no variations for the next few days and will remain at 4.5% until March 18.
The Basic Passive Rate continued to decline and for this week fell from 4.80% to 4.50%, while the Effective Dollar Rate also fell from 2.45% to 2.38%.
The Central Bank of Costa Rica published on Wednesday afternoon, March 4 that after registering considerable drops in the previous weeks, the Basic Passive Rate fell again, in this case by 0.30% and will remain at 4.50% until next Wednesday, March 11.
The Basic Passive Rate dropped from 5.65% to 4.95%, while the Effective Dollar Rate also dropped, from 2.41% to 2.35%.
The Central Bank of Costa Rica published on the afternoon of Wednesday, February 19 that after registering a slight fall the previous week, the Basic Passive Rate fell again, in this case by 0.70% and will remain at 4.95% until next Wednesday, December 26.
In Costa Rica, the Effective Rate in Dollars registered an increase from 2.47% to 2.49%, and the Basic Passive Rate remained at 5.75%.
The Central Bank of Costa Rica published on Wednesday afternoon, February 5th, that for this week the Basic Passive Rate will remain unchanged for the fourth consecutive week, and will be at 5.75% until next Wednesday, February 12th.
In Costa Rica, the Effective Dollar Rate registered an increase for the second consecutive week, in this case from 2.49% to 2.54%.
The Central Bank of Costa Rica published on Wednesday afternoon, January 22 that for the current week the Basic Passive Rate will remain unchanged, and will be at 5.75% until next Wednesday, January 29.
The Basic Passive Rate is an average of the collection rates in colones of the financial institutions at terms of 150 to 210 days.
The Basic Passive Rate rose from 5.70% to 5.75%, while the Effective Dollar Rate also rose, in this case from 2.30% to 2.49%.
The Central Bank of Costa Rica published on the afternoon of Wednesday, January 15 that after the drop registered the previous week, the Basic Passive Rate rose by 0.05%, and will remain at 5.75% until next Wednesday, January 22.
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.
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.
In Costa Rica, the Basic Passive Rate dropped from 5.75% to 5.70%, while the Effective Rate in Dollars also dropped, from 2.47% to 2.30%.
The Central Bank of Costa Rica published on the afternoon of Wednesday, January 8 that after registering no changes the previous week, the Basic Liable Rate reported a drop of 0.05% and will remain at 5.70% until January 15.
The Basic Passive Rate rose from 5.55% to 5.70%, while the Effective Rate in Dollars also rose, in this case from 2.27% to 2.47%.
The Central Bank of Costa Rica published on the afternoon of Wednesday, December 18 that after registering no changes the previous week, the Basic Passive Rate rose by 0.15%, and will remain at 5.70% until next Wednesday, December 25.
The Basic Passive Rate remained at 5.55%, while the Effective Rate in Dollars reported a decrease, from 2.43% to 2.27%.
The Central Bank of Costa Rica published on Wednesday afternoon December 11 that after recording an increase the previous week, the Basic Passive Rate did not change for the next few days and will remain at 5.55% until next December 18.
In Costa Rica, the Effective Rate in Dollars reported a new increase, in this case from 2.38% to 2.43%, and for its part the Basic Passive Rate fell to 5.55%.
The Central Bank of Costa Rica published on Wednesday afternoon December 4 that after recording an increase the previous week, the Basic Passive Rate reported a negative variation and will remain at 5.55% until next December 11.