The market for dollars was volatile Thursday, the Banco Central reported. The money market, the Monex, closed with the dollar being 24.73 colons lower than it was the previous day.
The Banco Central said that it did not have to intervene in the marketplace to protect the colons. It did, however, purchase $12 million in dollars to satisfy various government needs. This is a daily event. There were $38.6 million in private transactions.
The Monex figures reported by the Banco Central are lower than the rate of exchange posted by banks today. Banco Nacional will sell a dollar for 557 colons, according to the Web site. That figure had been 570 the day before.
The lowest Monex figure reported by the Banco Central was 540.79 colons for a dollar. However, the central bank had posted earlier today an official exchange rate of 558.73 colons.
The Monex activity seems to have reduced the price of a dollar about 13 colons.
Some businessmen said they expect the dollar to continue its increase that started in early February, particularly as the U.S. Federal Reserve continues to reduce the amount of bonds it will purchase each month to bolster the U.S. economy.
Thursday’s activity may have been due to large firms selling dollars so they could meet their twice monthly payrolls today.
At Banco Nacional today the rate to purchase colons is 542.
Central Pacific hosting
movie festival on the beach
Manuel Antonio and Quepos are in the midst of the third Festival Cine Nacional.
The free festival is on the beach in the open air and at a local park through Sunday.
Sponsors are the Centro Costarricense de Producción Cinematográfica of the Ministerio de Cultura y Juventud and the Municipalidad de Aguirre.
The productions include short videos, animation and other Costa Rica works.
Sunday at 7 p.m. at the Marina Pez Vela in Quepos at 7 p.m. the full-length movie “Chirripó.” directed by Gerardo Selva will be shown.
The festival has this Web site: