Dollar Drops to Lowest Value in 2010

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    The average buying and selling value of the dollar reached its lowest all year on December 15.

    The average purchase value reached ¢496.65 and sell value was down to ¢506.35. (Prices in Costa Rican currency, “colones.”)

    The currency value of the major market was down to ¢500 on Wednesday, which was the basis for the financial change.

    In light of these issues, Banco Central intervened and bought 7.5 million dollars.

    Financial institutions, business and individuals with their own companies participate in the major market economy with a minimum amount of $1,000.

    The decrease in the value of the dollar was registered on December 15th, and is calculated in relation to years past and the change from dollars to colones that all major companies and businesses use to pay their taxes.

    In years past, the currency value has remained low for a few days after this date, December 15th, which can be related to the change of dollars to colones used to pay the Christmas bonus for employees each year, which is given on December 20th.

    In years past, the currency value has recovered from this decrease; nonetheless, recovery depends on how much supply and demand there is of dollars.

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