Dollar Exchange Rate Approaches ¢510 in Costa Rica
The US dollar trades at ¢509.64 after five consecutive days of increases in the foreign exchange market.
The exchange rate of the US dollar against the Costa Rican colón has approached ¢510 in the Foreign Exchange Market (Monex), closing at ¢509.64 on May 23, following its fifth consecutive session of increases.
The dollar's price represented an increase of ¢5.48 from the same day the previous week when it was valued at ¢504.16.
The week opened with the dollar priced at ¢504.97, subsequently trending upward in the following sessions within Monex, which is managed by the Central Bank of Costa Rica (BCCR).
On May 23, a total of $35.92 million was traded across 222 transactions, substantially higher than the $9.33 million traded on the same day the previous week.
The highest volume day recorded in Monex was Thursday, with $39.05 million.
In total, the market registered transactions amounting to $163 million during this week, a decrease of $79.92 million compared to the $236.93 million traded in the prior week.
On Friday, the dollar opened at ¢508.46, with fluctuations reaching a high of ¢509.80 and a low of ¢507.01. The last trade settled at ¢509.64, which was the average price for that session.
Regarding the Central Bank's intervention, it did not conduct any foreign currency purchases in Monex to bolster its international monetary reserves, with the last such action taking place on March 5. However, the bank did intervene in the Monex to meet the demand from the non-banking public sector (SPNB), acquiring $111.91 million between Monday and Friday, a decrease from the $172.04 million acquired the previous week.
During Monday and Thursday (the latest available data), exchange rate intermediaries reported a surplus, as purchases of dollars from clients exceeded sales.
Overall, intermediaries acquired $476.78 million and sold $431.39 million, resulting in a net surplus of $45.38 million, according to data published by the Central Bank.
As of 3:30 PM on Friday, all banking entities were purchasing the dollar at ¢499 or higher.
At the Banco de Costa Rica (BCR), the Banco Nacional, and the Banco Popular, the selling prices were ¢513, ¢514, and ¢515, respectively, while other operators offered the currency between ¢514 and ¢518.
The dollar's price represented an increase of ¢5.48 from the same day the previous week when it was valued at ¢504.16.
The week opened with the dollar priced at ¢504.97, subsequently trending upward in the following sessions within Monex, which is managed by the Central Bank of Costa Rica (BCCR).
On May 23, a total of $35.92 million was traded across 222 transactions, substantially higher than the $9.33 million traded on the same day the previous week.
The highest volume day recorded in Monex was Thursday, with $39.05 million.
In total, the market registered transactions amounting to $163 million during this week, a decrease of $79.92 million compared to the $236.93 million traded in the prior week.
On Friday, the dollar opened at ¢508.46, with fluctuations reaching a high of ¢509.80 and a low of ¢507.01. The last trade settled at ¢509.64, which was the average price for that session.
Regarding the Central Bank's intervention, it did not conduct any foreign currency purchases in Monex to bolster its international monetary reserves, with the last such action taking place on March 5. However, the bank did intervene in the Monex to meet the demand from the non-banking public sector (SPNB), acquiring $111.91 million between Monday and Friday, a decrease from the $172.04 million acquired the previous week.
During Monday and Thursday (the latest available data), exchange rate intermediaries reported a surplus, as purchases of dollars from clients exceeded sales.
Overall, intermediaries acquired $476.78 million and sold $431.39 million, resulting in a net surplus of $45.38 million, according to data published by the Central Bank.
As of 3:30 PM on Friday, all banking entities were purchasing the dollar at ¢499 or higher.
At the Banco de Costa Rica (BCR), the Banco Nacional, and the Banco Popular, the selling prices were ¢513, ¢514, and ¢515, respectively, while other operators offered the currency between ¢514 and ¢518.
