American Expatriate Costa Rica

Ombudsman asks Central Bank for explanations

Ombudsman has uncertainty about the exchange rate. CRH.


The National Ombudsman has sent a letter to the chief executive of Banco Central de Costa Rica (BCCR), Rodrigo Bolaños, to clarify questions related to currency exchange. The letter asks for details of how the bank has intermittently controlled exchange rates since 2006, and expresses concern for how exchange rate changes can affect inflation and impact people who have dollar denominated loans. Also among the questions is weather the bank has the resources to prevent the exchange rate for exceeding the rate ceiling established by the bank.

Source crhoy.com