It’s a good time for buying dollars in Costa Rica

The dollar exchange rate fell again on Wednesday, continuing a downward trend in recent days.

On Tuesday, Costa Rica’s Central Bank intervened for second day the exchange market by buying dollars. The bank bought $34,000 on Monday and $1.8 million on Tuesday to prevent the currency from falling below the lower-band limit of ₡500.

At the Foreign Currency Negotiation Market (MONEX), the dollar traded at an average of ₡500.04.

Customers with dollar debt could benefit from this downward trend, say experts, who recommend that account holders with dollar loans make extra payments to decrease the debt amount. Those who receive a salary in dollars, however, are seeing their wages drop.

The exchange rate for Wednesday is:

Buy: ₡492.96
Sell: ₡503.66