In the first nine months of the year, trading volume totaled $8.318 million, 20% lower than the same period in 2018.
From the NCB report:
In the third quarter of 2019, the volume of foreign exchange operations (purchases + sales) in the foreign exchange market totaled 2,671.7 million dollars, of which 1,361.1 million dollars corresponded to purchase operations of intermediary agents1 (US$1,401.1 million in the previous quarter), and 1,310.6 million dollars in sales (US$1,296.4 million in the previous quarter). Thus, the net result of operations in the exchange market was net purchases of 50.5 million dollars in the third quarter, as a result of a greater demand for cordobas by the economy.
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 volume of operations totaled $2,948 million during the first quarter of the year, registering a 19% decrease with respect to the same period in 2018.
The volume traded (purchases + sales) of foreign currency in the exchange market during the first quarter of 2019 was 2,948.3 million dollars (daily average of US$38.8 million), showing a decrease of 18.9 percent over the first quarter of the previous year, mainly because of the decrease in financial sector operations with the public.
During last year, family remittances sent to the country totaled $1.501 million, 7.9% more than the $1.391 million reported in 2017.
In terms of year-on-year growth, Nicaragua ranks fifth as a recipient of family remittances at the regional level. Remittances to Honduras registered the highest growth in the region, 14%, followed by Guatemala (13.4%) and the Dominican Republic (10.4%), according to a report by the Central Bank of Nicaragua (BCN).
During 2018, family remittances to Central American countries and the Dominican Republic totaled $28.670 million, of which $9.288 million went to Guatemala.
In 2018, family remittances to Central America and the Dominican Republic (CARD) grew 11%, showing a slight slowdown with respect to what was observed in 2017 (12.0%). This slight slowdown was observed in all countries except Honduras, explained the Economic Commission for Latin America (ECLAC).
The volume of operations totaled $3.413 million during the fourth quarter of 2018 in Nicaragua, recording an increase of just 1% over the same period in 2017.
In accordance with the behavior that has been reported in recent years, in 2018 the country received $1.5 billion in family remittances, 8% more than that recorded in 2017.
The report of the Central Bank of Nicaragua states that "...
In an unstable exchange market, lack of transparency in the rules on intervention by the Central Bank of Costa Rica increases uncertainty and drives investors towards the safest currency.
EDITORIAL
The rise in the price of the dollar in Costa Rica is a negative factor for some sectors and positive for others, but generally negative for the economy, because it distorts companies' plans, diminishing their competitiveness, and because it increases market players' willingness to speculate.
83% of companies operating in a legal framework and who were surveyed by the Superior Council of Private Enterprise, obtained credit when they requested it to the financial system.
For the first time in nine years, the Federal Reserve has raised the benchmark interest rate, by 0.25%, starting off a process of a gradual adjustment which will make credit more expensive.
After seven years of interest rates at historical lows, signs of recovery in the US economy have led the Federal Reserve to announce the first upward adjustment in the federal funds rate, the main reference rate for structuring interest rates in the United States and around the world.
The idea of de-dollarization of the Nicaraguan economy was short-lived, after having set off various alarms in academic and business environments.
After several days of national discussion on the issue, the Central Bank has ruled out the possibility.
An article in Elnuevodiario.com.ni reports that "the President of the Central Bank of Nicaragua, BCN, Ovidio Reyes said on Wednesday that the current system of coexistence between the dollar and the Cordoba has worked in the country, therefore they have ruled out the dedollarization of the Nicaraguan economy. "
In light of the alarm generated by the proposal for the de-dollarization of the economy, the President of the Central Bank announced that there will be no change in the system of free convertibility of currencies.
An article in Elnuevodiario.com.ni reports that Ovidio Reyes, president of the Central Bank of Nicaragua, said that "... many people are concerned because they believe the government will start to add controls to the buying and selling of dollars. 'That will not happen, a key attraction of foreign investment has been the system of free convertibility of our currency and the dollar that exists in the country'. "
Some companies can become richer than others overnight, depending on decisions made by a few public officials.
Editorial
An article in Elfinancierocr.com reports on the positive effects of the devaluation of the national currency of Costa Rica, the-Colón, agains the dollar, for exporters in the country.
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