hotnutsjesus wrote:
I think what CR really needs is a 20% to 30% devaluation in the colon, which is in the cards down the road from what I can see.
Yes I know the colon has been pretty good, only dropped 6% in the last year, compared to a lot of other currencies (COP, ARS and we won't mention the mighty Chavez ooops I mean Venezuelan bolivar, hahahahaha)
But it looks to me like the government here is catching the dreaded latin American lefty disease, and so a devaluation is surely in the cards, it's a question of when, not if.
30% off chica rates and everything else would do a lot to help us gringos out.
Have to agree with you completely...the Banco Central has been able to magically, read artificially, maintain the colon exchange rate within a minimal range to the dollar for several years, regardless of a changing macro environment and interest rates. This has made CR a very expensive option, when compared to all its neighbors, even Panama lately (and they use $$ as their currency). This will surely blow up sometime in the not too distant future!