An increase in transactions from businesses that exchange dollar investments into colones to pay taxes drove fluctuations in dollar prices in the past four months.
Costa Rica announced that it would remove the country’s nine-year-old currency band system in favor of a floating exchange against the U.S. dollar, according to a statement from the Central Bank Saturday.
If you’re going to dedicate a year to a single exhibit, it better be good. The Central Bank Museums have taken a considerable risk with their latest exposition, “Casi Invisibles” (“Almost Invisible”), partly because of its academic style, and partly because the show runs until September 2015. That’s a long time to dedicate one of the most hallowed art spaces in San José, not to mention one of the biggest magnets for foreign tourists.
The Central Bank’s efforts to quell volatility in the Costa Rican currency seem to be working. But analysts note that there are bigger problems on the horizon for businesses.
