Dollar Dropping
The dollar exchange rate
has been falling in the
last several days, the
biggest drop occurred
over the weekend, where
the buy and sell rate
was ¢1.86 and ¢1.95,
respectively, lower than
the close of Friday.
The drop is influenced
with the existence of
more dollars in the
marketplace, the drop in
the price of oil and a
lower demand for the US
currency, according to
the experts.
Economist, Juan Muñoz,
added that consumers are
starting to pull back on
their spending which is
also an influencing
factor in the dollar/colón
exchange rate.
Bankers and financials
experts say there is no
need to worry as the
downward trend is
cyclical.
The end of the year,
besides the expenses of
the Christmas shopping
season, is also a time
for expenses like paying
taxes on income and
property and the
marchamo, among other
items.
According to economist,
Félix Delgado, he feels
that the country could
end up with an
oversupply of dollars by
the end of the year,
which in turn means an
appreciation of the
colón. |
