US Dollar Has Gained 2 Percent on the Costa Rican Colón Since January

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In the first four months of the year the price of the dollar on the Monex wholesale market has increased almost 2 percent, according to financial reports.

At the beginning of the year, the price of the U.S. currency was 556.06 colones to the dollar, but on Tuesday, May 2 the day closed at 566.97 colones to the dollar, a gain of 10 colones in only four months.

“In the banks’ windows, the reference exchange rate, which began the year at ¢548.18, ended (May 2) at ¢557.90. Dollar sale rates started in January 2017 at ¢561.10 and closed Tuesday at ¢570.72,” said the country’s business daily El Financiero.

“… Over the last 12 months, there is a cumulative devaluation of 5.16 percent of the Costa Rican colón, according to its price on the wholesale market. The Central Bank has insisted that market forces should be allowed to manifest themselves in the exchange rate, although its does intervene to avoid violent fluctuations,” explained El Financiero.

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