MEXICO CITY — Mexican policymakers were unanimous in their decision to keep the key interest rate unchanged at a record low last month, with the majority warning against raising rates before the Federal Reserve.
The euro has already fallen to a 12-year low of $1.06, and should keep falling for at least another year. In fact, it shouldn't be long until the dollar is worth more.
CARACAS, Venezuela – The Venezuelan bolivar opened Thursday at 172 to the dollar on the first day of a government sponsored exchange meant to compete with the black market.
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.
The Legislative Assembly approved in a second-round vote Monday afternoon a long-delayed capital-control bill that requires foreign investors to deposit 25 percent of their investment with the Central Bank.
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.
The Costa Rican Consumers Association filed complaints against 40 businesses for allegedly using dollar prices without visibly displaying the official exchange rate and for failing to use rates set by the Central Bank.
In the lead up to national elections here and following news that the United States Federal Reserve would raise pull back economic stimulus, the U.S. dollar reached its highest point against the Costa Rican colón, the national currency, since November 2010.
