American Expatriate Costa Rica

NR demands explanations from Central Bank regarding exchange rate increase

The National Restoration Party (PRN) made an urgent call for the president of the Central Bank, Rodrigo Cubero, to explain the situation of the dollar as well as the market projections.

The sale of the currency reached ¢629 on Thursday.

The head of fraction Carlos Avendaño said that this rise generates an impact on the pocket of Costa Rican families, mainly those who have to pay loans in dollars.

Restoration estimated that if a person has to disburse $280 per month to finance a vehicle, they will have to add ¢20 thousand more, which would mean $32 dollars more with the current exchange rate.

According to data from the Central Bank, on the Foreign Currency Market (Monex), the colón has depreciated by 9% in the last 10 months. The exchange rate began a rising trend in mid-August, but increased more rapidly since September 13th.

crhoy.com