No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveCentral Bank Launches New MONEX System

Central Bank Launches New MONEX System

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.

 

Trending Now

Guatemala Offers Asylum to Nicaraguan Migrants Deported by U.S.

Guatemalan President Bernardo Arévalo announced on Friday that his country will grant asylum to Nicaraguan migrants deported by the United States who do not...

Guatemala Makes History as They Face USA in Gold Cup Semifinal Showdown

Desperate to show progress under Mauricio Pochettino, the United States is looking to secure a return to the CONCACAF Gold Cup final on Wednesday...

Alligator Alcatraz: Trump’s Everglades Migrant Camp Draws Protests and Criticism

US President Donald Trump toured a new Florida migrant detention center dubbed "Alligator Alcatraz" on Tuesday, boasting about the harsh conditions and joking that...

Costa Rica to Launch Electric Air Taxis for Sustainable Travel in Guanacaste

Costa Rica is poised to revolutionize its transportation landscape with the introduction of electric air taxis, offering a sustainable alternative to traditional ground travel...

Costa Rica Introduces New ₡500 Coin: Old One No Longer Valid

Visitors to Costa Rica this month should be aware of an important change to the country’s currency. As of Tuesday, July 1, the old...

A Costa Rica Love Story: From Rustic Cabina to Separate Dreams

My Tica wife and I have been together for over a quarter century. When we met, I was living a simple life here. Three...
Avatar
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica