Financial specialists foresee a 2020 without major shocks to the exchange rate, mainly because of an abundance of dollars at the start of the year. The Central Bank is starting the year with historically high reserves.
The bank has about $9,000 million in reserves and the country has new external credits coming in, adding to even greater confidence in the market. This year will likely not have greater fluctuations than 2019.
The average price of the dollar moved in the Monex market between ₡614.31 and ₡562.63. A study showed that there are seasonal patterns in the exchange market because of months with greater supply of foreign currency from October to April and than a drier period until the next April. The supply and demand of dollars varies with exports and tourism, among other sectors and the demand for credit and savings.
The Ministry of Finance will propose a new bill to Congress this year to hire even more external resources. Even if that is not approved, we will not see a great devaluation.
