Rise in dollar exchange rate is normal, expert says

colones

December 30th, 2012 (InsideCostaRica.com) The dollar exchange rate closed 11 colons higher yesterday in comparison to last week. The dollar opened with a sale price of 503.38 on Monday, and closed at 514.32 on Saturday, according to the Costa Rican Central Bank.

 

Grabriel Aplizar, Financial Risk Manager at Banco de Costa Rica (BCR), explained that this behavior is normal, and markets should not be alarmed, as the price movement is due to many businesses being closed for the holidays.

 

According to the analyst, the movements do not correspond to a new trend in the exchange market.

 

Alpizar also stated that during the week, the dollar saw fluctuations of around two percent, and in the exchange market it is normal to see movements of up to three percent in one day.

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