Everything indicates that the end of the year would bring a lower dollar exchange rate. Those are the projections launched by experts, who despite not wanting to predict a specific amount, point out that all the existing pressures in the markets aim to push the price of the dollar down.
This was stated by the director of Business Banking of Davivienda, Rodolfo Herrera.
On issues of expectations it is believed that there may be an appreciation of the colon … for the remainder of the year,
Herrera said.
There are at least five elements in the foreign exchange market that project a lower exchange rate.
The first is the entry of about $ 1.5 billion from Eurobonds, which are expected in the market before December.
Days ago, Minister of Finance Rocío Aguilar confirmed that everything is going well with this negotiation, and that she is waiting for these resources before the end of the year.
So many dollars in the market push the price acquire the foreign currency to be lower than the current one.
The second element is the approval of two international loans, one of them for $500 million with the Development Bank of Latin America (CAF), and another for $350 million with the Inter-American Development Bank (IDB).
As a third aspect, a lower estimate in the current account deficit stands out. The government has managed to improve its results, especially in August and September from the start of the collection for value added tax (VAT). In fact, September closed with a surplus for the first time since 2016.
A fourth element is stability in investment flows.
What we are seeing today is that by the end of the year there are generally strong movements of multinational companies that sell dollars to pay bonuses and here there are very large and growing but they already learned … before one saw that everyone went out to sell at the same moment and then the exchange rate stuck to the floor, but now there is more stability,”
said Herrera.
The fifth point is the level of amortization of foreign debt that the government must make, which is very little for the remainder of the year, which makes it less necessary for the government to go out to acquire dollars to meet the payments.
This year, the exchange rate has remained stable , with some downward trend.
Window prices have shown a downward curve. In mid-January the sale stood at ₡605. This Wednesday it stood at ₡580.