Central Bank Launches New MONEX System

November 24, 2006

The Central Bank this week put into effect its new Foreign Currency Negotiation Market (MONEX) system, a digital platform on which the Central Bank, authorized banks and other financial agencies trade currencies in the wholesale market.

The new system is part of the Central Bank’s push to reform Costa Rica’s monetary system by liberalizing the colón.

The Central Bank put into effect last month a new exchange rate regime in which the colón fluctuates more freely against the U.S. dollar, inside of a currency band (TT, Oct. 13).

The new MONEX system replaced the old MONED system, which had been the prevailing system since 1992, and was run by the National Stock Exchange, the daily La Nación reported. MONEX is run by the Central Bank.

 

Facebook Comments

You may be interested

How to file a criminal complaint, or ‘denuncia,’ in Costa Rica
Costa Rica
397 views
Costa Rica
397 views

How to file a criminal complaint, or ‘denuncia,’ in Costa Rica

Caeli Chesin - March 22, 2019

In Costa Rica, a criminal complaint can report workplace harassment, a home invasion or sexual assault, among other crimes related…

Off the eaten path: Aroi Thai
Dining & Nightlife
586 views
Dining & Nightlife
586 views

Off the eaten path: Aroi Thai

William Ayre - March 22, 2019

Aroi Thai was the first Thai restaurant in Costa Rica. They started as a delivery-only service before opening a restaurant…

Costa Rica confirms measles cases in children of United States citizens
Costa Rica
3142 views
Costa Rica
3142 views

Costa Rica confirms measles cases in children of United States citizens

Alejandro Zúñiga - March 21, 2019

Costa Rica is enacting a National Surveillance Protocol after confirming two cases of measles, the Health Ministry announced Thursday afternoon.…