Dollar exchange rate shows downtrend this week
Although in December the dollar exchange rate reached its highest point in the last nine months (₡514), this week saw the beginning of a downward trend. On Tuesday, the sell price in the wholesale market was ₡508 per dollar.
Most banks in Costa Rica were closed for the holidays, resulting in few dollar transactions and the intervention of the Central Bank to defend the band floor (₡500) was unnecessary.
With the reopening of banks this week, the exchange rate is showing a downward trend in the wholesale market, and it is possible that the Central Bank will buy dollars to protect the lower band.
Experts expect the dollar price to drop further in coming days, but they do not recommend taking out loans in that currency, since the rate may increase soon.
You may be interested
Costa Rica reaches 1,000 total coronavirus cases; 65% recoveredAlejandro Zúñiga - May 28, 2020
Costa Rica confirmed 16 new cases of the coronavirus over the past day, totaling 1,000 cumulative known cases, the Health…
Costa Rica cancels its biggest year-end parade due to pandemicAFP and The Tico Times - May 28, 2020
Costa Rica will not celebrate its traditional Festival de la Luz, a parade of colorful floats that tours the capital…
Tico Talk: 10 Costa Rican Spanish expressions for expats and touristsChristopher Howard - May 28, 2020
You can’t call yourself fluent in Costa Rican Spanish unless you understand its slang. Over the past months, we have…