Value of U.S. Dollar Again Dips Below ¢500

The devaluing U.S. dollar continues to drive an increase in the value of the colón. As of Monday, $1 U.S. could buy ¢498, a 60¢ drop since its ¢558 value on Jan.1.

The buy value typically drops around the middle and beginning of each month due to an increased demand for the colón for salary payments. However, as the end of the year draws near, it appears economists’ predictions of an improved dollar value (TT May 4) are unfounded.

Since 2000, the colón has depreciated an average of ¢20 against the U.S. dollar. In 2010, the U.S. dollar has depreciated nearly 11 percent against the value of the colón.