The US dollar traded at the close at 642.28 Costa Rican colones on average, representing an increase of 2.34% compared to the previous day's price, when it averaged 627.58 Costa Rican colones.
Taking into account the last seven days, the US dollar marked a decline of 0.82%; but for a year it has still maintained a rise of 5.85%. Analyzing this data with that of previous days, he ended four sessions in a row with a negative trend. As for the volatility of the last few days, it was 19.95%, which is clearly higher than the annual volatility figure (10.01%), presenting itself as an asset with greater variations than expected.
In the annual photo, the US dollar has even changed by a high of 647.60 Costa Rican colones on average, while its lowest level has been 621.72 Costa Rican colones on average. The US dollar is closer to its maximum than its low.
The Costa Rican currency
The Costa Rican colón, named after the figure of Christopher Columbus, is the legal tender in Costa Rica that is also divided into 100 equal parts called cents.
After its independence, in 1821, the country abandoned the use of the Spanish currency and switched to using the real and then opting for the peso, however, it was until 1986 that the use of the colón as a legal currency was determined.
It should be noted that today the coins in circulation are those of 5, 10, 25, 50, 100 and 500 colones. Before, there were 1 and 2 colones, but these were withdrawn by the Central Bank of Costa Rica and no longer have market value. As for banknotes, there are 1 000, 2 000, 5 000, 10 000, 20 000 and 50 000.
In Costa Rica, 100 colones coins are also known as “a tile”, 1000 banknotes are known as “a red” and the 5000 colones as “a toucan”, this due to the images that were previously printed on the money on the back.
According to the Central Bank, the economy closed 2021 with growth of 7.6 percent, becoming the highest rate of increase since 2008. It was also placed above all forecasts.
On the other hand, the agency also expects production in Costa Rica to show improvements of 5.4 percent by 2022. However, the country will also have to deal with poverty of 23% and unemployment of 14%.
Agencies
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