Dollar takes a slight hit against colon

The U.S. dollar has lost about 10 colons in value in the last two weeks.

The dollar was strongest June 12 when the price to buy a dollar was 560.99 colons and the price received in selling a dollar was 550.07 colons.

The rate today is expected to be 551.11 colons to buy a dollar. Selling one will fetch 540.12, according to the Banco Central de Costa Rica. The prices at various banks and other outlets will be different.

The Central Bank has issued bonds valued at 2.2 billion colons in order to stabilize the financial system. This is good news for consumers who were hit with rising prices because the colon devalued since the end of last year. The value of the colon is reflected in imported goods, petroleum and even in electrical costs.

However, with a strengthening U.S. economy, the dollar is likely to continue its rise.

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