At 3:34 pm, according to the website of the Central Bank, the weighted average price of dollars reached ¢512.11. Tuesday’s close was ¢507.69. As of Thursday morning the rate to buy colones via the Banco de Costa Rica is 509.
Entidadl president, Rodrigo Bolaños said, late last year, the central bank felt less net supply (supply less demand) dollars from the private sector which explains the fact that the Central Bank has hardly intervened to defend the floor of the exchange rate band set to ¢500.
The rise in the price the same day occurs when the U.S. Federal Reserve (Fed) announced that it will cut $10 billion from the economic stimulus.