The exchange rate has settled down since the Central Bank's surprise move last week to drop the floor of its “crawling band” exchange-rate system.
According to the Central Bank's Web site yesterday, one U.S. dollar now buys an average of ¢496.47 and costs an average of ¢503.02.
There are some short-term winners and losers in the adjustment. Exporters – whose expenses are in colones and income is in dollars – are hit especially hard, while importers get a boost from the stronger colón.
Some analysts, however, are advising Costa Ricans to be cautious about making any drastic adjustments to long-term investments in dollars because of the change in the exchange rate, saying it's too early to tell if it's a long-term trend. |
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| Exchange Rates
