• Costa Rica Coffee Guide

Central Bank Launches New MONEX System

November 24, 2006

The Central Bank this week put into effect its new Foreign Currency Negotiation Market (MONEX) system, a digital platform on which the Central Bank, authorized banks and other financial agencies trade currencies in the wholesale market.

The new system is part of the Central Bank’s push to reform Costa Rica’s monetary system by liberalizing the colón.

The Central Bank put into effect last month a new exchange rate regime in which the colón fluctuates more freely against the U.S. dollar, inside of a currency band (TT, Oct. 13).

The new MONEX system replaced the old MONED system, which had been the prevailing system since 1992, and was run by the National Stock Exchange, the daily La Nación reported. MONEX is run by the Central Bank.

 

You may be interested

Precision medical equipment remains Costa Rica’s top export
Costa Rica
1895 views
Costa Rica
1895 views

Precision medical equipment remains Costa Rica’s top export

Alejandro Zúñiga - June 22, 2021

Costa Rica tallied more than $5.77 billion in exports over the first five months of 2021, a 23% increase over…

Canada to begin easing border measures in July
Costa Rica
2986 views
Costa Rica
2986 views

Canada to begin easing border measures in July

Alejandro Zúñiga - June 22, 2021

Canada will ease some border measures as part of a phased reopening that begins next month, the country's government announced…

Costa Rica pauses appointment of Ambassador to Nicaragua
Costa Rica
7 views
Costa Rica
7 views

Costa Rica pauses appointment of Ambassador to Nicaragua

Alejandro Zúñiga - June 22, 2021

The Costa Rican government on Monday announced it has paused the appointment of its Ambassador to Nicaragua due to "the…

The Tico Times | Top Costa Rica News, Travel, Culture and Sports