In Costa Rica, exporters and businessmen of the tourism sector are concerned about the decreasing trend that in recent months has reported the exchange rate, which on July 18 was quoted at ¢575.7 per dollar.
Official figures report that between early February and mid-July of this year, there has been a fall of up to 38 colones per dollar, as the average rate in the Monex wholesale market fell from ¢613.87 to ¢575.69.
After last week in Costa Rica the rate rose to 6.65%, a level that had not been recorded since August 2015, on July 10 abruptly decreased to 6%.
Data published by the Central Bank of Costa Rica on Wednesday afternoon, July 10, show that the Basic Passive Rate (PBS) decreased by 0.65%, and will remain at 6% until next July 17.
Because savers in Costa Rica have moved their resources to longer terms, to avoid an increase in income tax, the Basic Passive Rate rose to 6.65%, a level not recorded since August 2015.
According to data published by the Central Bank of Costa Rica on Wednesday afternoon, July 3, the Basic Passive Rate (BPR) reports levels not reached since August 26, 2015, and will remain at 6.65% until next July 10.
In Costa Rica, the Basic Passive Rate increased to 6.55%, a level that had not been recorded for four years, while the Effective Rate in Dollars also increased, in this case to 3.14%.
According to data published by the Central Bank of Costa Rica on Wednesday afternoon, June 26, the Basic Passive Rate reports levels that did not reach since last September 30, 2015 and will remain at 6.55% until next July 3. [GRAFICA caption="Click to interact with graphic"]
A greater supply of dollars, high local interest rates and a decrease in imports of durable goods explain the decreasing trend of the exchange rate in Costa Rica, which on June 18 reached the lowest level of the year.
In 2018, the dollar price against the Colon was on an upward trend, however, between February 6 and mid-June of this year, there has been a fall of up to 28 colones per dollar. [GRAFICA caption="Click to interact with graph"]
During the first five months of the year, the country received $2.281 million in remittances, 4% more than reported in the same period of 2018, well below the 9% rate reported from January to May 2018.
El Salvador received $2.281 million in family remittances up to May 2019, higher by $84.4 million, equivalent to a 3.8% year-on-year growth with respect to income received under this concept in the same period of the previous year, informed the Central Reserve Bank.
In Costa Rica, the Basic Passive Rate keeps on rising and this week increased from 6.30% to 6.35%, while the Effective Rate in Dollars decreased from 2.99% to 2.92%.
The Central Bank of Costa Rica published on Wednesday afternoon June 12 that after remaining unchanged the previous week, the Basic Passive Rate increased by 0.05%, and will remain at 6.35% until next June 19.
In Costa Rica, exporters ask the Central Bank to "avoid distortions in the fixing of the exchange rate because of the oversupply of dollars from the sources of financing for the fiscal deficit."
At the end of 2018 and the beginning of 2019, the dollar price against the Colon reported an upward trend, but from February 6 to mid-June 11, there has been a fall of up to 26 colones per dollar.
During the first five months of 2019, family remittances sent to Guatemala totaled $4.045 million, 12% more than the same period last year, growth that is higher than the 8% reported from January to May 2018.
The latest figures from the Bank of Guatemala show that in May 2019 the country received remittances of $974 million, 21% more than the $809 million recorded in the same month in 2018.
The Effective Rate in Dollars increased from 2.88% to 2.99%, while the Basic Passive Rate did not report changes, in this case it will remain at 6.30%.
The Central Bank of Costa Rica published on Wednesday afternoon June 5 that after the increase of two weeks ago, the Basic Passive Rate did not change and will remain at 6.30% until next June 12. [GRAFICA caption="Click to interact with graph"]
According to official statistics, the volume of exchange market operations in April totaled 924.7 million dollars (US$38.5 million daily average), showing a 0.97% decrease with respect to the level registered in the previous month. Of the total, 500.5 million dollars corresponded to purchasing operations and 424.3 million dollars to sales.
The Basic Deposit Rate increased from 6.20% to 6.30%, while the Effective Rate in Dollars increased from 2.81% to 2.88%.
The Central Bank of Costa Rica published on Wednesday afternoon May 29 that after remaining unchanged the previous week, the Basic Passive Rate increased by 0.10%, and will remain at 6.30% until next June 5.
During the first three months of the year, the country received $1.713 million in family remittances, 10% more than in the same period of 2018.
Statistics from the Central Bank of the Dominican Republic show that between the first three months of 2018 and the same period of 2019, the total of remittances sent to the country grew by $162 million, from $1.551 million to $1.713 million.
During the first four months of the year, family remittances received by the country totaled $1.776 million, 4% more than reported in the same period of 2018.
Family remittances from El Salvador totaled $1.776 million in the first four months of 2019, $66.1 million more than the income received under this concept in the same period of the previous year, informed the Central Reserve Bank.
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