Costa Rica Exchange Rate into 2013

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    The Costa Rica exchange rate is projected to stay at the ₡500 mark in to 2013. While 6 month projects are tenuous at best, there are good indicators for this.

    There has been an acceleration of dollars pouring into Costa Rica in 2012 and will continue into 2013 as well. Private sector investment is currently at $1.5 billion for the first half of 2012 and the Central Bank indicates that the number could reach $2.3 billion by the end of 2012.

    In an effort to refinance the current government debt, the Costa Rica Legislative Assembly has passed another $ 1 billion of Eurobonds, substituting the lower interest dollar credit for government bonds that controlled by the colon.

    If the Central Bank decides to issue colon bonds to buy back colones generated with the purchase of dollars, rather than just buying more dollars and becoming a bigger creditor of the U.S. the resulting effect will be putting more colones into the economy.

    The choice for the Central Bank will be to continue building dollar reserves or submit to a colon inflation price to stop the colón-dollar exchange rate from falling.

    Essential what is predicted there will be less pressure in the remaining 2012 and into 2013 on the colon rate against the dollar.

    The Costa Rica News (TCRN)
    San Jose Costa Rica

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