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| and the dollar went down! https://forum.costaricaticas.com/viewtopic.php?f=1&t=13920 |
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| Author: | Littleshit [ Wed Oct 18, 2006 12:24 pm ] |
| Post subject: | and the dollar went down! |
Yep, net net the dollar declined!!!! by the end of the day Tuesday. The private banks stayed out of the market(a big spread keeps them hiding)' The Bank of CostaRica(not the central bank...the public bank)had a three or four colone spread throughout the day....which is a credit to them. People...for some reason....payed up to 5 colones more for dollars at one institution than they could have payed at another(bad market info??). The dollar was trading at 515 to the colone at the end of the day yesterday...period. The reason for all of this ...the whole change...is that Costa Rica is AWASH in dollars. By reducing the guaranteed convertability the BCCR will reduce the disireability of Costa Rican paper. You may get x percent interest but you can no longer figure what your convertability will be at the end of a timed investment. All and all...dollar investments become more chancy. |
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