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Zeos
 Post subject: Re: DOLLARS/COLONES
PostPosted: Wed Nov 07, 2018 11:32 pm 
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Zman wrote:
CR has been broke for awhile now. They are unwilling or unable to continue propping up the colone.
If the government can't pay the aquilnado to its employees this yr all hell will break loose.


They can always print the money (in reality create it in various ways) to pay employees...but this leads to more of the same...devaluation of currency.
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Netgems
 Post subject: Re: DOLLARS/COLONES
PostPosted: Thu Nov 08, 2018 2:03 am 
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BangBang57 wrote:
911 Driver wrote:
"they will need $1.5 billion just to complete the year and that is 1.5 million they do not have!"
Is that correct, that's a drop in the bucket, US will prolly provide in AID, strange the USA's
budget is running a massive deficit. :shock: :shock: :shock: :shock: :shock:
Regards, 911 Diver
So submit Billion for Million ?
Regards, 911 Driver

Sorry about that!! I just corrected my post!"They will need $1.5 BILLION just to complete the year and that is #1.5 BILLION they do not have". And yes, either one, BILLION or MILLION is nothing compared to the US deficit, BUT we are also talking about a country of less than 5 million people vs. a country of over 300 million. Also a highly developed country with a huge industrial base vs a country with almost no industrial base. And from what I hear and read, it seems they do not feel they can count on the US coming to their aid!!


They are a "protectorate" of the USA, which means they can boast they have no military, and why that is something to boast about, I'm not sure, but if Ortega decided to get frisky and perhaps need a diversion and claim based on 100 year old history that Guanacaste is his, we would be intervening...

At this point, the USA is unlikely to write checks to 3rd world countries that mismanage their economy by corrupt political hacks, we got enough of that to deal with back home... :x

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WiseAsh
 Post subject: Re: DOLLARS/COLONES
PostPosted: Thu Nov 08, 2018 2:36 pm 
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The IMF will be the organization to bail out Costa Rica, not the USA. The IMF has helped CR in the past.
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Netgems
 Post subject: Re: DOLLARS/COLONES
PostPosted: Thu Nov 08, 2018 3:43 pm 
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WiseAsh wrote:
The IMF will be the organization to bail out Costa Rica, not the USA. The IMF has helped CR in the past.


Interesting thought...if they do...there's going to be some strict restrictions and the bureaucrat corrupt crooks and union goons won't be able to fight finally becoming responsible.... :mrgreen: :mrgreen: :mrgreen:

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Netgems
 Post subject: Re: DOLLARS/COLONES
PostPosted: Thu Nov 08, 2018 3:47 pm 
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Establishing a new high, nothing on the horizon says it can't reach 700 by December...700 by Xmas, an expat Xmas present!!!

I'm getting ____$ extra per month, forgot how much, but it's three 1/2 hour mp sessions with propina!!!


https://www.xe.com/currencycharts/?from ... RC&view=1Y

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Jawanker
 Post subject: Re: DOLLARS/COLONES
PostPosted: Thu Nov 08, 2018 11:57 pm 
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I know, I'm such an insensive prick, but how will this affect rates with the girls at the HDR?

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Netgems
 Post subject: Re: DOLLARS/COLONES
PostPosted: Fri Nov 09, 2018 12:22 am 
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Jawanker wrote:
I know, I'm such an insensive prick, but how will this affect rates with the girls at the HDR?


Most of us if not all who live here quote our offer in colones, some still think it's close to 500 and it registers as more in their minds, so use colones with the girls. I quote 35 mil, to many, it seems like close to $70, but it's really like $57 or so... :twisted:

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Jawanker
 Post subject: Re: DOLLARS/COLONES
PostPosted: Fri Nov 09, 2018 5:19 pm 
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Netgems wrote:
Jawanker wrote:
I know, I'm such an insensive prick, but how will this affect rates with the girls at the HDR?


Most of us if not all who live here quote our offer in colones, some still think it's close to 500 and it registers as more in their minds, so use colones with the girls. I quote 35 mil, to many, it seems like close to $70, but it's really like $57 or so... :twisted:



Thahks for the solid info.

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Barrett4444
 Post subject: Re: DOLLARS/COLONES
PostPosted: Fri Nov 16, 2018 12:21 pm 
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Colones to the Dollar 595 this morning at banco national
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Netgems
 Post subject: Re: DOLLARS/COLONES
PostPosted: Sat Nov 17, 2018 11:02 pm 
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https://finance.yahoo.com/news/wall-str ... awFmmvOUpk

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Zman
 Post subject: Re: DOLLARS/COLONES
PostPosted: Sun Nov 18, 2018 11:12 am 
CR artificially props up the colone by using massive amounts of dollars to buy colones. They have been doing this for years and years. Last week CR intervened to strengthen the colone.
They will continue to do this as long as they can.
I think they will try to stabilize it around 600.
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MM3
 Post subject: Re: DOLLARS/COLONES
PostPosted: Sun Nov 18, 2018 1:43 pm 
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Zman wrote:
CR artificially props up the colone by using massive amounts of dollars to buy colones. They have been doing this for years and years. Last week CR intervened to strengthen the colone.
They will continue to do this as long as they can.
I think they will try to stabilize it around 600.


Unfortunately the Banco Central is burning through its dollar reserves at a high rate - and the "unloan" of $14 million to get the government through it's immediate debt crisis a month ago didn't help.

Frankly, with the fiscal crisis propping up the colone for what the Banco Central predicated as a 'controlled devaluation' to a projected CRC 800 to $1 by the end of 2019 isn't going to happen.

The massive amounts of dollars just are't there and no one is buying CR debt. https://www.nasdaq.com/article/costa-rica-bonds-sink-as-fiscal-concerns-rise-20181102-00682

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Icantstayaway
 Post subject: Re: DOLLARS/COLONES
PostPosted: Sun Nov 18, 2018 1:49 pm 
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I paid most of my bills for next year at 620 exchange. Glad I did!!!!!!!!!

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tank
 Post subject: Re: DOLLARS/COLONES
PostPosted: Tue Nov 20, 2018 8:16 pm 
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20 Nov 2018 arrivals hall at San Jose (SJO) the currency exchanges by baggage claim were exchanging at 595 per USD, and same rate in the departures hall at BAC (red walls) by the entrance to security. BAC was buying colones at 607 but I don't recall what the arrivals hall listed. That's a 12 colones spread. Tempted to hit an ATM just to compare.
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Zeos
 Post subject: Re: DOLLARS/COLONES
PostPosted: Tue Nov 20, 2018 10:54 pm 
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tank wrote:
20 Nov 2018 arrivals hall at San Jose (SJO) the currency exchanges by baggage claim were exchanging at 595 per USD, and same rate in the departures hall at BAC (red walls) by the entrance to security. BAC was buying colones at 607 but I don't recall what the arrivals hall listed. That's a 12 colones spread. Tempted to hit an ATM just to compare.


12 colones spread seems very tight. Nice
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