Dollar Exchange Rate
Keeps Improving
Since November 24, 2007,
the day that the dollar
exchange rate to the
Costa Rican colon
dropped 4% overnight,
the daily exchange rate
has been keeping steady,
with small up and down
movements from day to
day.
However, on Wednesday
night the Banco Nacional
(BN) moved the exchange
rate some ˘5 colones
overnight and then
followed with another
increase on Friday.
The other state bank,
Banco de Costa Rica (BCR),
followed suit, as so did
the private banks.
The move forced the
Banco Central de Costa
Rica (BCCR) - Central
Bank - to up its
reference rate to
reflect the market
conditions.
The dollar/colon
exchange rate this
morning (Saturday) at
the Banco Nacional was
˘502 for the buy and
˘508 for the sell, a
drop of a few colones
from Friday; and the
sell ˘506 and the buy
˘514 at the BCR.
The largest of the
private banks, the
Scotiabank is offering
the buy at ˘505.25 and
sell at ˘512; Banco
Cuscatlan and BAC San
José both at ˘503 and
˘511, respectively.
The above exchange rates
are posted on each
bank's internet website.
The net effect of the
change is that where it
took ˘490.250 colones to
buy us$1,000 dollars on
Tuesday at the Banco
Nacional, is worth today
˘506.000 colones - a
difference of ˘15.750
colones - at the Banco
de Costa Rica today.
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