Savings Accounts In Dollars Increase

June 11, 2004

AN increasing number of CostaRicans are choosing to put their savings inU.S. dollar bank accounts.In May, the total in savings accountsand term deposits was $3.5 billion – a26% increase compared to March. Duringthose two months, the amount of dollarsdeposited into the country’s accountsequaled $732 million, reported the dailyLa Nación.The increased demand for dollaraccounts was, in part, caused by the sharpdrops reported by the country’s dollarinvestment funds (TT, May 14).

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