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

Costa Rica coronavirus updates for Tuesday, September 29
Costa Rica
5574 views
Costa Rica
5574 views

Costa Rica coronavirus updates for Tuesday, September 29

Alejandro Zúñiga - September 29, 2020

Costa Rica announced 19 new coronavirus-related deaths over the last day for a total of 880, according to official data…

Costa Rica says coronavirus measures continue in October
Costa Rica
21083 views
Costa Rica
21083 views

Costa Rica says coronavirus measures continue in October

Alejandro Zúñiga - September 29, 2020

President Carlos Alvarado and the National Emergency Commission (CNE) on Tuesday  announced Costa Rica's coronavirus measures will continue in October. The…

These are the requirements to enter Costa Rica as a tourist
Costa Rica
2334 views
Costa Rica
2334 views

These are the requirements to enter Costa Rica as a tourist

Alejandro Zúñiga - September 29, 2020

Costa Rica is currently welcoming tourists from select countries and U.S. states. Due to the coronavirus pandemic, Costa Rica has…