All those who worried about the fact that the dollar had surpassed ¢600 in several banks can now breathe a bit more easily.
On Thursday morning, the exchange rate came as a surprise when it began to recede after registering strong increases during the first 3 days of the week.
In the Foreign Currency wholesale market (MONEX) the exchange rate dropped ¢7.36 colones , just as the Central Bank announced that it has $1 billion of its reserves for “inter-day” interventions available.
It also increased the Monetary Policy Rate by one percentage point in order to reduce exchange rate pressure on prices.