Dollar Rebounds in
Tuesday's Trading
Following a drop of
˘21 colones on Monday,
the US dollar was back
to Last weeks high level
by closing on Tuesday,
when state and private
banks were again buying
and selling dollars at
˘550 and ˘562,
respectively, after
dipping to ˘528 and ˘540
at the close of business
on Monday.
The Banco Central de
Costa Rica (BCCR) -
Central Bank - this
morning posted an
exchange reference rate
of ˘546.33 for the buy
and ˘557.37 for the
sell.
Many still keep to the
idea that too many
dollars in the
marketplace is affecting
the swings in the daily
exchange rate, blamin
the big drop on Monday
as "tax deadline" meant
a lot of conversion of
dollars to colones to
satisfy the tax man his
share, causing the
sudden drop.
While others believe
that speculation is
causing the extreme
swings, cashing in big.
Financial experts say
that those with savings
in dollars should not
make any sudden changes
in converting their
holdings into colones. |
