The Central Bank of Costa Rica makes it second intervention this year. CRH.
Authorities of the Central Bank of Costa Rica (BCCR) injected $31 million in U.S. dollars into the currency market on Monday as the cost of buying dollars (relative to colones) on the Monex market rose from 537.87 to 542.12 colones. The move comes after the Central Bank injected $4.9 million on January 29th.
According to the President of the Central Bank of Costa Rica, Rodrigo Bolaños, such interventions are necessary to reduce volatility and mitigate sudden fluctuations. The dollar is at its highest level since June 10th, 2010.