Dollar exchange rate fell by 1%, held between ¢500 and ¢506 in 2013

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December 31st, 2013 (InsideCostaRica.com) The price of the dollar in Costa Rica ended the year about 1% lower compared to 2012, and saw less variability in the exchange rate compared to previous years.

 

The average price of the dollar in the wholesale market ranged between ¢500 and ¢506.48 in 2013 and ended the year at ¢502.22.

 

According to economist Manuel Zuniga, the lower level of variability in the exchange rate this year is due primarily to the fact that there was more supply than demand for foreign exchange and that net monetary reserves were adequate.

 

Economist Alberto Franco believes the exchange rate will remain relatively stable or devalue only slightly in 2014.  That forecast could change, however, depending on actions by a new government in 2014, in addition to monetary policy of the United States.

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