The price of the US dollar in Costa Rica has been fluctuating for the past few weeks and today if has reached the highest price of the year at 600 colones per dollar at some private and public banks.

Some banks still have the price slightly under the 600 colones, BAC San Jose for example sells it at ₡599.00, Banco de Costa Rica and others such as Scotiabank has it at ₡602.00.

The new president of the Central Bank Rodrigo Cubero stated, when he took on his position back in August 1st that the institution would not allow violent fluctuations, but it would let the currency “float” a bit more freely in comparison to the past .

“I have been clear since the beginning that we want to gradually move to higher degrees of flexibility. This is something we want to do gradually”, commented Cubero.

According to information supplied by the Central Bank it is normal, historically, that the price of the dollar increases between April and October while the lowest prices are registered between December and April.

The increase on the price of the dollar has a negative effect for those that earn in colones but have debts and payments in dollars.

For information on bank locations and hours of operation, see: https://bancoinfo.co.cr