Dollar - Colon Exchange
- Despite the recent exchange rate manipulation by the CR Gov (last Wednesday it was 525ish - 535ish depending on where you went), the posted exchange rate today is about: compra - 547ish and venta - 558ish (and even slightly higher in some places if you look on the Banco Central de Costa Rica website). It is interesting how quickly the dollar - colon rate increased to where it almost was before the manipulation.
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- I don't really pay much attention on daily moves of the exchange rates
or even weekly (but I too was quite surprised with the sudden drop of
the dollar to c520/$ last week). But if you read the thread about 8 or
10 months back when everyone was panicking after the drop to c490/$, a
few of us here kept saying the dollar was only RELATIVELY weak to
other currencies such as the Euro and the Yen. But with respect to the
colon, 'cmon its not going to drop much because the local economy here
is weak at best.
- My guess?
Coca-Cola and other internationals have now paid in their aguinaldo and
year-end payables, in $.
And now the bills in $ for the imports for Christmas are coming due,
and the $ aren't there. I have a guess as to the reason, too. But will
abide, for now.