This Wednesday, the Effective Rate in Dollars (TED) showed a decrease of 0.45 points, reaching one of the lowest levels of the year. Now it stands at 2.71%, while last week it was at 3.16%.
This rate is used as a benchmark in the domestic market for foreign currency transactions.
Like the Basic Rate in colones, the decrease in the TED has a lot to do with the entry into force of the fiscal plan, specifically the section of income that will now tax 15% of the interest generated by the savings and investments in banks and 7% for cooperatives.
Vidal Villalobos, financial analyst at Prival Bank, added that once that pressure for resources passed, the rates would fall significantly.
The downward movement benefits those who have credits in dollars linked to the TED, although it will depend on each financial institution to define the time in which it reviews the reference of the rates.
It also lowered the rate in colones.
On Wednesday afternoon, the Central Bank announced the decrease of the Basic Passive Rate by 0.65%, which will mean a decrease in the share of loans in local currency.