Devaluation of Colón Has Slowed This Year
THE rate of devaluation of the CostaRican colón against the U.S. dollar decreasedduring the first five months of this year.During 2003, the colón fell at a rate of11%. But as of May, it was only droppingat a rate of 9.9%, La Nación reported. Inother words, devaluation had been ¢0.16per day against the dollar, but it’s currentlyonly at ¢0.10.One element that contributes to this tendency,analysts said, is that the U.S. dollarhas recently decreased in value against theEuro and the Japanese Yen, the paperreported.If the country’s current economic conditionsremain stable, analysts say, thedevaluation of the colón could stop at9.13%, which would make one U.S. dollarequivalent to ¢457.30 in December.
You may be interested
Commemorative stamps mark Costa Rica’s path to 200 yearsThe Tico Times - April 21, 2021
Costa Rica is celebrating its bicentennial this year, and the country is marking the occasion with, among other things, a…
Costa Rica coronavirus data for Tuesday, April 20The Tico Times - April 20, 2021
Costa Rica registered: 1,069 new cases of Covid-19 on Wednesday, April 14; 1,121 on Thursday, April 15; 1,044 on Friday,…