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Fed meeting key to cost of dollar in Costa Rica

January 29, 2014 by Staff News Writer

The price of the dollar will be in Costa Rica, according to specialists, the main effect of the decision of the Fed over its policy of economic stimulus


Experts predict that a decision today before Ben Bernanke, chairman of the U.S. Federal Reserve (Fed), will be key to exchange rates in Costa Rica. Should the Fed continue with a moderate reduction of the U.S. economic stimulus it is expected that the dollar (USD) will rise in Costa Rica, relative to the colon (CRC).

Many Latin American economies and Russia have begun to feel the effect caused by the withdrawal of money from investors in recent weeks. The Argentine peso lost 14 percent in just two days last week.

Adriana Rodriguez, Aldesa economist, explained that Costa Rica also had an appreciation of the dollar, but she believes this phenomenon will be corrected.

Interest rates in the United States affect the cost of money, and availability of credit, which affects the economy in Costa Rica.

Source La Nacion

Related articles:

  1. Central Bank intervened with $4.9 million to stabilize dollar market
  2. World Bank improves outlook for economic growth in Costa Rica
  3. Central Bank has $7.2 billion in reserves to prevent steep rise in dollar
  4. Dollar price reaches 512.11¢ on Wednesday
  5. Dollar closed at ¢528.93 (Sell Colones) on Thursday
  6. Central Bank could remove the exchange rate bands to control the dollar, says economist

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