Holiday brings jump in dollar exchange rate at Costa Rica banks

December 23, 2014

After a long period of stability the U.S. dollar exchange rate this week showed an upward trend at both public and private banks in the country.

Last week, the exchange rate remained stable at ₡538 for sell and ₡526 for buy. On Monday, however, the price of the U.S. currency began climbing, and on Tuesday, the country’s banks registered rapid increases of ₡4 to ₡8 per dollar.

Costa Rica’s Central Bank on Tuesday reported the official exchange rates at ₡542.47 for selling and at ₡530.47 for buying.

The sell price at state-owned banks remained stable at ₡545, while buy prices varied from ₡532 to ₡535. At private banks, dollar sales reached almost ₡546, and buying ranged from ₡532 to ₡535.

The presence of dollars in the local market generally increases in December as companies in the early days of the month exchange dollar investements into colones to pay taxes, Christmas bonuses and other obligations.

Usually the rate drops once businesses have complied with these transactions.

You may be interested

PHOTOS: Death toll rises to 10 in Nicaraguan protests
Nicaragua
316 views
Nicaragua
316 views

PHOTOS: Death toll rises to 10 in Nicaraguan protests

The Tico Times - April 21, 2018

Violent protests against a proposed change to Nicaragua's pension system have left at least 10 people dead over two days,…

Nicaragua’s primal scream
Nicaragua
451 views
Nicaragua
451 views

Nicaragua’s primal scream

Tim Rogers / Univision - April 21, 2018

This time feels different. There's an energy I haven't felt before. A sense of urgency. A groundswell. The people of…

Protests in Nicaragua renew tensions with Costa Rica
Nicaragua
356 views
Nicaragua
356 views

Protests in Nicaragua renew tensions with Costa Rica

AFP - April 20, 2018

Ongoing protests in Nicaragua caused renewed diplomatic tension between that country and its southern neighbor, Costa Rica, on Friday after…