• Costa Rica Coffee Guide

Dollar exchange rate shows downtrend this week

January 8, 2013

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 and IMF reach technical agreement on fiscal adjustment
Costa Rica
1227 views
Costa Rica
1227 views

Costa Rica and IMF reach technical agreement on fiscal adjustment

AFP and The Tico Times - January 23, 2021

Costa Rica and the International Monetary Fund (IMF) announced Friday an agreement to balance the country's finances, which rules out…

Saprissa, Alajuelense reach all-Costa Rican CONCACAF League final
News
1214 views
News
1214 views

Saprissa, Alajuelense reach all-Costa Rican CONCACAF League final

The Tico Times - January 23, 2021

One of Costa Rica's two most-popular soccer clubs will represent the country by winning the 2021 CONCACAF League. Deportivo Saprissa…

Costa Rica, IMF reach agreement in principle for $1.75 billion loan
Costa Rica
1224 views
Costa Rica
1224 views

Costa Rica, IMF reach agreement in principle for $1.75 billion loan

Alejandro Zúñiga - January 22, 2021

Costa Rica has reached an agreement in principle with the International Monetary Fund (IMF) for a $1.75 billion loan. Before…