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Costa Rica’s colón surges to seven-year high against dollar

Monday, May 22, 2017

Costa Rica banks were buying the US dollar at about 583 colónes late last week, the highest rate in seven years.

Since the start of the year, financial markets have predicted that the colón this year would face increased pressure to dip against the dollar.

Central Bank officials have attributed the upward trend this year mostly to external influences, including uncertainty over economic measures issued by the new Donald Trump administration and to the U.S. Federal Reserve’s decisions about its base rates.

Source: Tico Times