American Expatriate Costa Rica

Exchange rate rises ¢2.4 and Central Bank intervenes

The average exchange rate rose ¢ 2.4 on Wednesday in the Foreign Currency Market (Monex), where wholesale operations are listed.

During the day, a total of $21.3 million were transacted, of which $8.4 million were contributed by the Central Bank through an exchange stabilization intervention, due to excessive pressures on the exchange rate.

The Central Bank also made a direct sale of $32.5 million to the non-financial public sector, the highest sale of this type, so far in 2019.

Wednesday marked the fourth consecutive days of upward trend closures in Monex. At the banks, the exchange rate rose by an average of ¢3 during the day.

crhoy.com