• Costa Rica Real Estate
  • Costa Rica Coffee Guide

Costa Rican exchange rate at highest mark in 2011

October 6, 2011

The exchange rate between the U.S. dollar and Costa Rica’s colón rose to its highest mark of the year Friday, as the buy value hit ₡515 with a sell value of ₡525, according to the Central Bank of Costa Rica (BCCR). The value of the colón depreciated ₡7 against the U.S. dollar in the past week and ₡16 since Sept. 20.

In an interview with The Tico Times in September, Central Bank President Rodrigo Bolaños explained the exchange rate hovered around ₡500 for most the year due an influx of investments made in colones for much of the year.

Bolaños said that recent international economic uncertainty could result in fluctuations in the exchange rate and interest rates. With increasing uncertainty in the U.S. and European financial markets, the exchange rate during the final three months of the year could see more erratic activity than the first nine months of the year.

A report from the San José-based financial consulting firm Aldesa accredited the recent devaluation of the colón to the increase in the demand of dollars for imports, reduced credit lines in the short-term as decided by the Central Bank, and the “expectation of economic agents in regards to the international volatility” that could reduce the amount of foreign currency entering Costa Rica. 

You may be interested

Costa Rica lifting more measures in June; country adds 22 new coronavirus cases
Costa Rica
20088 views
Costa Rica
20088 views

Costa Rica lifting more measures in June; country adds 22 new coronavirus cases

Alejandro Zúñiga - May 29, 2020

Costa Rica confirmed 22 new cases of the coronavirus over the past day, totaling 1,022 cumulative known cases, the Health…

Costa Rica extends coronavirus border restrictions until June 30
Costa Rica
14068 views
Costa Rica
14068 views

Costa Rica extends coronavirus border restrictions until June 30

Alejandro Zúñiga - May 29, 2020

Costa Rica has extended its entry restrictions in response to the coronavirus pandemic until June 30. Until at least that…

Lufthansa announces June flights to Costa Rica
Costa Rica
4074 views
Costa Rica
4074 views

Lufthansa announces June flights to Costa Rica

The Tico Times - May 29, 2020

Lufthansa will resume flights to Costa Rica in June, the airline said in a press release. Starting in mid-June, the…