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Costa Rica's central bank rules out dropping floor on exchange band for dollar

Thursday, August 19, 2010


The president of Costa Rica’s central bank, Rodrigo Bolaños, flatly rules out any changes in the exchange-rate system, following the trend set by his predecessor, Francisco de Paula Gutiérrez.
 
Bolaños made known his decision during a meeting of the Chamber of Commerce.
 
Analysts attribute the drop in the dollar to a low level of economic activity, low interest rates in US dollars, an increase in the repatriation of capital and foreign exchange inflows of direct foreign investment.
 
Original source: Inside Costa Rica