españolGuatemala: Risk for the QuetzalThursday, February 4, 2016 An analysis report by the Central American Business Intelligence indicates risks to the stability of the Guatemalan currency in the medium term. From the analysis "Increased risk for Quetzal in the medium term" Costa Rica: Dollar and Colon Rates ConvergeTuesday, November 22, 2016 With the disappearance of the differential between the interest generated on the two currencies, the choice between one or the other for using for savings is being defined by the risk of devaluation of the colon against the dollar. An article in Elfinancierocr.com reports how the fall of the passive base rate during 2016 decreased the gap between interest rates paid on deposits in both currencies, concluding that "...If the trend continues, for savers it will be the same keeping their money in colones or in dollars and they may prefer the currency in light of the possibility of rates rising overseas." Mexican Peso Continues to DepreciateTuesday, July 28, 2015 One dollar in Mexico now costs over 16 pesos, having accumulated 9.5% depreciation since the beginning of 2015 and 23% since October 2014. The importance of Mexico as a destination for exports from the Central American countries necessitates keeping an eye on the spread of exchange rate competitiveness of the respective economies. Nicaraguan devaluation rumors flatly deniedMonday, May 12, 2008 Amid tensions over a truckers strike, rumors that the government was planning a 20 percent devaluation of the córdoba swept Nicaragua at the weekend but they were immediately denounced as false. José Adán Aguerri, head of the leading business organization, the Cosep, said that nothing that was happening in the nation's economy pointed to the need for any such devaluation. "Unfortunately, it's part of our national culture to spread irresponsible rumors," he added. Devaluation in Honduras Fuels Dollar SavingsTuesday, March 13, 2012 The percentage of savings in foreign currency has been increasing in commercial banks since June 2011, when the country ended its fixed exchange rate against the dollar. The Honduran private banking industry reports that up to 1st March the total balance of deposits was 156.026 billion lempiras ($8.188 billion), including lempiras as well as foreign currency, of which the equivalent of 45.247 billion lempiras corresponds to savings in dollars (about $2.374 billion). That is, 29 percent of the total savings in the domestic banking system corresponds to dollar accounts. Costa Rica: Exchange Rate Continues to RiseWednesday, May 3, 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"] Central America and the Devaluation of the Chinese YuanMonday, August 17, 2015 The 1.9% devaluation against the dollar could be the first of several downward adjustments in the value of the Chinese currency, making imported goods from China even cheaper. International analysts are not ruling out that in the short and medium term, the Central Bank of China will re-enable its exchange rate policy and devalue the currency even more, which would directly impact the price of goods that Central American companies import from China. New Measures to Control Dollar RiseThursday, June 8, 2017 In Costa Rica the Central Bank has raised the monetary policy rate, this time to 4.5%, and announced that it will hold auctions in the Monex wholesale market, in addition to reinstating electronic deposits made by the public through its platform Central Directo. In order to encourage public deposits on its Central Direct platform, the monetary authority has raised interest rates. For example, for a 180-day deposits, the gross rate went from 3.67% to 5.70%. Through this system anyone can make deposits starting from a minimum amount of 100 thousand colones (US $175). Colon Free Zone Faces Devaluation in VenezuelaMonday, February 25, 2013 The 40% devaluation of the Venezuelan currency threatens the ability of the largest customer of the CFZ to pay debts in dollars. Martesfinanciero.com reports that "In a globalized market, when a country gets a cold it is normal that another one sneezes. This is the case of Panama, and more specifically of the Colon Free Zone (CFZ), which sees a dangerous flu coming on after the roughly 40% devaluation of the Venezuelan bolivar, which has gone from 4.3 to 6.3 per dollar. " Honduras central bank to unveil new rules for dollar auctionsMonday, May 26, 2008 The central bank of Honduras announced that new rules are to be published for dollar auctions and the way in which the lempira's sliding devaluation is managed. Ana Cristina Mejía de Pereira, former president of the National Banking Commission said the new rules would have to be presented in transparent fashion to the financial institutions and the public at large. The Lempira DepreciatesFriday, October 14, 2011 Next week the price of one dollar will exceed 19 lempiras. The devaluation that the Honduran currency has suffered against the dollar for several days, has the population concerned, because it increases the cost of living, reducing purchasing power in a country highly dependent on imports. Costa Rica's inflation to surpass 11%Thursday, June 19, 2008 A survey of economic forecasts shows that the average inflation rate expected for Costa Rica over the next 12 months is 11.7 per cent. A currency devaluation of 3.5 percent is also expected. The survey is carried out each month by the Central Bank to measure inflation and exchange rate expectations by analysts and experts. The survey covers businessmen, academics and consultants. Costa Rican colon to drop in value by year-end: analystsTuesday, May 13, 2008 Though it may be too early to claim that the Costa Rican colon's exchange rate against the dollar has undergone a major change, analysts agree that this could be the beginning of a new tendency in the market that will lead to a depreciation in the currency's value by the end of the year. Roy González, the central bank manager, said speculation was behind recent changes in the value of the colon. But financial analyst Andrés Víquez said the fundamentals of the Costa Rican economy and international markets point to a medium-term depreciation of the currency. Guatemala's Quetzal appreciates in valueThursday, June 26, 2008 Guatemala's currency has appreciated in value more than any other in Central America, using an index that compares prices of basic products with its neighboring countries in the region. The Executive Secretary of the Central American Monetary Board said in his report on indicators said that the quetzal maintained an index of appreciation of 73.6 in May. Don’t Let your Dollars Wilt AwayMonday, July 9, 2012 Amid the global financial turmoil it seems that the only safe haven are fixed term deposits... that is until we recover our cash and try to use it ... What matters is not how many dollars you have in your bank account, but what products and services can be purchased with them. |
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Friday, February 3, 2023 - last update: Friday, 1:31 pm
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