The Costa Rican currency, the colón, has been on a slow slide against the the U.S. dollar during the last several months but analysts say it’s unlikely to fall much farther.
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.
The president of Costa Rica's Central Bank warned Johnny Araya’s economic team Tuesday after the National Liberation Party blamed the rival Citizen Action Party's possible victory at the polls on April 6 for recent volatility in the Costa Rican currency, the colón.
