January 24th, 2014 (InsideCostaRica.com) The value of the US dollar increased significantly this week, rising ¢5.21 during trading sessions at the Monex wholesale market.
Last week, the dollar closed at an average price of ¢502.13. By the end of yesterday’s trading, the exchange rate stood at ¢507.34. That is the highest average rate of exchange achieved during the whole of 2013.
At the windows of commercial banks, the purchase price of dollars ranged between ¢496 and ¢499 while the sell price ranged between ¢510 and ¢513 this week.
Economists estimated earlier this month that the value of the dollar in Costa Rica could rise this year as a result of the easing of expansionary monetary policy by the United States.
Still, most economists believe the exchange rate will hold between ¢500 and ¢520 this year.