www.CostaRicaTicas.com

The dollar keeps falling.

Buy: ¢550
Sell: ¢559.50

www.bncr.fi.cr

Amazing. The US of effing A losing ground to one of the original banana republics. Thank god the bankers are still getting their bonuses. Peace on Earth, goodwill towards Wall Street.

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"The only normal people are those you don't know very well." Joe Ancis

Dam I hope it stop sliding soon..

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"THE TRUTH IS' EVERYBODY IS GOING TO HURT YOU. YOU JUST GOTTA FIND THE ONE WORTH SUFFERING FOR"
Robert Nesta Marley

Pretty soon, Relax will be as expensive as HDR....

Its still cheaper than Miami...

_________________
"THE TRUTH IS' EVERYBODY IS GOING TO HURT YOU. YOU JUST GOTTA FIND THE ONE WORTH SUFFERING FOR"
Robert Nesta Marley

OH MY GOD! The $ is ALL THE WAY DOWN to 550. It's THE END of Western Civilization.......

Now, now. Surely a bond trader understands that whether an exchange rate is 550 to 1 or .5 to 1, means virtually nothing in and of itself. It certainly means less than the direction of change, especially when one country is supposedly the world's reserve currency and the other is a two bit banana republic. No, it's not the end of the world, not to me for sure. My money isn't in dollars OR Colones.

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"The only normal people are those you don't know very well." Joe Ancis

One bit.


Today's rate:
Buy: 553
Sell: 562.50

The river has resumed it's downstream direction. For now.

_________________
"The only normal people are those you don't know very well." Joe Ancis

Patience gentlemen.

The net short, dollar carry trade that is driving this whole thing is crowded. Everyone is on the same side of the boat...when this happens, you want to be on the other side, or better yet out of the boat all together.

I think the thing will start coming unwound soon, and Uncle Bucky will do a moonshot..albeit temporarily. I recommend one takes advantage of short term $ strength to stock up on physical precious metals..also, always pay the chi*as in Colones your $ should start going a long way here soon.

a jump up

Buy: 559
Sell: 568.50

According to an article in Tico Times the colon/dollar exchange rate is acting normally for this time of the year, It is a matter of supply and demand and historically occurs between approximately Nov. 15 to Dec 15.

Costa Rica businesses have to pay their taxes and employee aguinaldo in this period. Both are payed in colones so the businesses flood the market with dollars buying colones. This demand for colones causes the shift in the rate and after the holidays it will start back up as the demand for dollars grows.

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Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

Nice to know. If it's predictable, seems like somebody could make some decent money on this. Not me of course, I am not rich enough or brave enough.

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"The only normal people are those you don't know very well." Joe Ancis

Same week last year the rate dropped abruptly from 550 to 520. Within about a week by December 7 it was back to the 550. Must be something to do with the aguinaldo like ID says. All employers are having to come up with a lot of cash right now for the extra month pay. Hopefully its back to the 580 by next week.

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Knowledge speaks...Wisdom listens

On December 1, 2008 the rate at Scotia bank was 522 and on December 31 it was 548. Almost a full 5% increase.

_________________
Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine