Dollar Gains ˘12
Colones In Single Day
The dollar/colon exchange rate keeps going
up and down like a yo-yo.
After falling some ˘6 colones overnight from
Thursday to Friday, it jumped up ˘12 colones
from Friday to Saturday.
The dollar opened Friday morning at a rate
of ˘546.50 for the buy, the first time it
dropped below ˘550 in 13 months, and a sell
of ˘556.56.
This morning, Saturday, the dollar is
trading at ˘558.97 for the buy and ˘568.96
for the sell, that is a difference of ˘12.47
and ˘12.4, respectively.
These are rates published daily by the Banco
Central de Costa Rica (BCCR) - Central Bank,
that sets the "daily reference" rate used by
the banks to establish their own exchange
rates, which varies from bank to bank.
The Cental Bank sets the low for the band at
˘500 and the high at ˘600.
Banks can trade in the currency exchange
within that band.
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