Dollar May Drop To ˘500 Colones, Experts Say
Although the dollar took a small move upward
in yesterday's trading, economists are not
ruling out the possibility that the dollar
could hit the bottom of the exchange band,
˘500 colones, in the coming days.
Today the reference rate set by the Banco
Central de Costa Rica (Central Bank) is
˘512.53 for the buy and ˘523.08 for the
sell, a few colones higher than Wednesday's
opening.
Economists say that, even though the trend
in the short term is to keep dropping, in
the long term there will be an increase.
This month the dollar has dropped more than
˘6 colones, hitting a low not seen in years
from average high of ˘560 at the beginning
of this year.
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