No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveColón to Gain Value Against Dollar

Colón to Gain Value Against Dollar

The Central Bank made a surprise move Wednesday night of dropping the floor of its “crawling band” exchange-rate system by 4%, or 20 colones.

Technically, that means the colón’s value against the dollar has a wider space to fluctuate in the Costa Rican market without the Central Bank intervening to influence it by buying or selling dollars.

Practically, however, it means the value of the colón will likely go up against the dollar, as the colón has been pushing against the floor of the band for some time, and a drop in that floor means the colón is likely to follow.

Central Bank president Francisco de Paula Gutiérrez said he expected exchange rates to vary – possibly widely – from bank to bank while the market adjusts to the change.

As of press time, Banco Nacional was buying dollars at 495 and selling them at 500, while private bank BAC San José was buying dollars at 497.37 and selling them at 512.

 

Popular Articles

Tourism and Sport Fishing Ignored in Costa Rica’s Blue Economy Roadmap

Last Friday, April 25, the official presentation of the 2025–2030 National Fisheries and Aquaculture Development Plan took much of Costa Rica’s coastal fishing sector...

Costa Rica’s 1710 Danish Shipwreck Redefines Slave Trade Narrative

An expedition of marine archaeologists from Denmark has unraveled the mystery surrounding two shipwrecks lying in the shallow waters of Cahuita National Park, on...

UNESCO Awards Nicaragua’s La Prensa for Courageous Journalism in Exile

The UN culture agency awarded its annual press award to Nicaragua's oldest newspaper, whose staff have been forced to publish from abroad as President...
Avatar
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait

Latest Articles