The Central Bank (BCCR) on Thursday intervened to curb the rise in the exchange rate to sell $16.5 million in the foreign exchange market (Monex). This is the fourth time that the bank has intervened in currency markets to stop the appreciation in the value of the dollar. In total, the bank has injected $104.1 million into he market. The dollar closed on Thursday at ¢551.09, which represented an increase of 3.30 ¢ compared with Wednesday’s session.
Gilberto Serrano, president of the Costa Rican Banking Association (ABC), fears that speculation has inflated the price of the dollar. The banker yesterday made the statements in a letter to President of the central bank, Rodrigo Bolaños, which addressed the 10 percent devaluation suffered by the value of the colon in less than 45 days.