Dollar Drops Almost ˘20
Colones In Week's Trading
The exchange rate this morning is almost ˘20
colones less than opening Monday morning,
dropping to ˘552.43 for the buy and ˘562.75
for the sell today to Monday's ˘572.06 and
˘582.21, respectively.
During the first week of the year, the
dollar jumped ˘11 colones from the decline
closing 2009.
The drop is blame on too many dollars in the
market which coincides usually with the
payment of salaries on the 15th and 30th of
the month, as many businesses trade their
dollar reserves for colones to pay their
employees.
Economists say that there is no need for
alamr, as the swing in the exchange rate is
part of the normal part of business and well
within the exchange bands set by the Banco
Central de Costa Rica (BCCR) - Central Bank,
which maintians a floor of ˘500 colones and
a ceiling of ˘600. |
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