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

Free press accuses Daniel Ortega’s dictatorship of wanting to impose a reign of silence
La Prensa
666 views
La Prensa
666 views

Free press accuses Daniel Ortega’s dictatorship of wanting to impose a reign of silence

La Prensa / Leonor Álvarez - September 17, 2018

On Saturday, Sept. 8, while reporters around the world were celebrating the International Day of Solidarity of Journalists, reporters, and…

This week in the Peace Corps: Teaching about language, leadership and life
Changemakers
702 views
Changemakers
702 views

This week in the Peace Corps: Teaching about language, leadership and life

The Tico Times - September 17, 2018

Many Peace Corps Volunteers (PCVs) here in Costa Rica spend a large chunk of their time in schools. PCVs lead…

General strike enters second week; Legislative Assembly starts discussing tax-reform
Costa Rica
2896 views
Costa Rica
2896 views

General strike enters second week; Legislative Assembly starts discussing tax-reform

The Tico Times and AFP - September 17, 2018

Today marks one week since unions around Costa Rica called for an indefinite strike to protest a proposed tax-reform bill.…