State Banks Up Dollar
Exchange Rate; Private
Banks Follow
Following the opening of
business today, the
Banco Nacional (BN) led
the other banks with
dollars to colones
exchange rate, upping
the buy and sell almost
˘5 colones,
placing the buy rate at
˘505 and sell at ˘511.
The Banco de Costa Rica
(BCR) followed suit
setting the buy rate at
˘506 and sell at ˘513.
The private banks
followed the lead of the
state banks, while the
Banco Central de Costa
Rica (BCCR) maintained
its reference rate at
that of opening of
business: buy ˘494.60
and sell ˘501.07.
According to the
website, Scotiabank, the
largest of the private
banks, set the rate at
˘505.25 for the buy ˘512
for the sell; HSBC's buy
rate is ˘498 and the
sell is ˘511.25; Banco
Cuscatlan is at ˘500 and
˘512.25: and BAC San
Jose ˘503 and ˘511.
According to the BCCR,
the refernce sell rate
dropped overnight on
November 24, 2007, to
˘505.15 from a high of
˘521.23, and the buy
rate went from ˘516.76
to ˘496.64.
Since November the
movement up and down on
both the buy and sell
rate has been modest,
slowly moving on a down
trend, until Wednesday
when the Banco Nacional
pushed the trend upwards
by ˘5 colones.
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