Exporters want their own exchange rate
November 7th, 2012 (InsideCostaRica.com) Though the dollar exchange rate has remained very close to the 500 colones mark for quite some time, it saw a slight increase towards the middle of last week. By Friday, however, it had returned to around 500 colones per US dollar.
Now, the Costa Rican Export Chamber (CADEXO, in Spanish), is insisting on the need of creating a different exchange rate specifically for exporters.
Chamber president, Monica Segnini, stated that such a measure is often applied in other countries, which consists of having a rate for the population and companies in general, and a higher exchange rate for the export sector.
Companies that sell their products to other countries state that decreases in the dollar price seriously affects their bottom lines, as they export in dollars, but pay salaries, taxes and expenses in general in colons.
Economists and experts in Costa Rica believe that the exchange rate will remain very close to the 500 colons mark for the remaining part of this year.
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