Monex Is Free Open To Anyone Beginning Today
After three postponements, finally the Banco
Cental de Costa Rica (BCCR) - Central Bank -
opens the dollars market to any person or
company trading in the currency and without
cost.
Monex is the name of the wholesale market
where dollars are be bought and sold, where
traders until yesteeday had to pay ¢250.000
colones to participate.
The opening is to generate more competition
and stabilize the price of the dollar.
However, some economists, like Andrew Viques,
expect a rebound in the exchange rate by the
year's end.
As of today, to participate in the wholesale
trading of the dollar, one needs only to buy
a card reader and digital certificate which
costs ¢23.000 colones.
The Central Bank says that least 100 people
have already purchased the devices
Initially the Monex fee was to have been
waived on August 1, then postponed to
September 14 and then agian to October 5.
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Click here for the Average exchange rate in MONEX this year.
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