www.CostaRicaTicas.com

I bought some things at Pricemart the other day and got 601.?? for dollars. nice thing is I usually get my purchase to just over the next hundred in this case i spent 303.?? in dollars and got 57,??? in colones back.

The USD/CRC pairing blew through the 600 handle resistance today. It was at 592 in 2009 when I first came to Costa Rica. I traded forex markets for 10 years on my own account. One thing I learned is that interest rate differentials are one of the greatest drivers of currency stength and the US Fed is the only major country raising interest rates now. The USD is appreciating against most all currencies. The Fed has indicated they will raise rates one more time this year and continue next raising rates next year. I expect the upward trend in the USD/CRC pair to continue until US interest rates stop rising.

Below is a list of public and private bank exchange rates as of 10/31/2018. The table did not display well but you should be able to see the Purchase and Sale prices at each bank.

Entity type Authorized Entity Purchase Sale Exchange differential Last update
Public banks
Bank of Costa Rica 614.00 627.00 13.00 10/31/2018 12:10 pm
National Bank of Costa Rica 614.00 627.00 13.00 10/31/2018 12:19 pm
Banco Popular and Community Development 614.00 627.00 13.00 10/31/2018 12:12 pm
Private banks
Banco BAC San José SA 615.00 627.00 12.00 10/31/2018 12:26 pm
Banco BCT SA 614.00 627.00 13.00 10/31/2018 12:13 pm
Cathay Bank of Costa Rica SA 610.00 627.00 17.00 10/31/2018 12:14 pm
CMB Bank 605.00 625.00 20.00 10/31/2018 11:46 AM
Banco Davivienda (Costa Rica) SA 612.00 625.00 13.00 10/31/2018 11:55 AM
Banco General (Costa Rica) SA 612.00 625.00 13.00 10/31/2018 12:16 PM
Banco Improsa SA 612.00 625.00 13.00 10/31/2018 12:16 PM
Banco Lafise SA 613.00 628.00 15.00 10/31/2018 12:14 pm
Banco Promérica SA 609.00 624.95 15.95 10/31/2018 11:38 AM
Banco Scotiabank de Costa Rica SA 611.00 624.00 13.00 10/31/2018 11:50 am
Prival Bank (Costa Rica) SA 614.00 627.00 13.00 10/31/2018 12:22 PM
Financial
Financiera Cafsa SA 612.00 625.00 13.00 10/31/2018 12:25 pm
Financiera Comeca SA 602.00 615.00 13.00 10/31/2018 7:54 AM
Financiera Desyfin SA 614.00 626.00 12.00 10/31/2018 11:58 AM
Financial G & T Continental Costa Rica SA 611.00 626.00 15.00 10/31/2018 12:14 pm
Housing Mutuals
Grupo Mutual Alajuela - Savings and Loan Housing 611.00 623.00 12.00 10/31/2018 11:56 AM
Mutual Cartage of Savings and Loan 612.00 625.00 13.00 10/31/2018 12:21 pm
Cooperatives
Coope-ANDE N ° 1 RL 614.00 627.00 13.00 10/31/2018 12:28 pm
Cooperativa COOCIQUE RL 610.00 623.00 13.00 10/31/2018 12:04 pm
Cooperativa Coopealianza RL 613.00 625.00 12.00 10/31/2018 12:02 PM
Cooperativa CREDECOOP RL 601.00 613.00 12.00 10/31/2018 09:40 am
Cooperativa Nacional de Educadores RL (COOPENAE) 614.00 627.00 13.00 10/31/2018 12:21 pm
Cooperativa San Marcos RL 603.00 616.00 13.00 10/31/2018 10:21 am
Cooperating servers RL 614.00 627.00 13.00 10/31/2018 12:26 pm
Coopesparta RL 597.00 610.00 13.00 10/30/2018 05:15 pm
Exchange Houses
Exchange House Global Exchange 515.66 688,64 172.98 10/30/2018 07:00 pm
Casa de Cambio Teledolar SA 614.00 632.00 18.00 10/31/2018 12:26 pm
Stock Exchange
Acobo Puesto de Bolsa SA 614.00 627.00 13.00 10/31/2018 12:27 pm
Aldesa Valores, Puesto de Bolsa, SA 606.00 625.00 19.00 10/31/2018 11:59 AM
BCT Valores, Puesto De Bolsa, SA 612.00 625.00 13.00 10/31/2018 11:42 a.m.
BN Valores SA, Stock Exchange 614.00 627.00 13.00 10/31/2018 12:26 pm
Stock Market of Costa Rica Stock Exchange 611.50 629.50 18.00 10/31/2018 12:15 pm
PB Inversiones SAMA 613.00 628.00 15.00 10/31/2018 12:22 PM
Popular Securities, Stock Exchange 610.00 630.00 20.00 10/31/2018 12:11 pm

more detailed table in this link
http://qcostarica.com/hello-devaluation ... he-dollar/

it wasn't a crawl but a sprint over 610, even the rip off spot at the airport is well over 500

Buttered popcorn...caramelized popcorn, oh yea baby!!! $$$$$

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Don't try to understand 'em, just rope 'em down and brand 'em...

Locogringo wrote :

I expect the upward trend in the USD/CRC pair to continue until US interest rates stop rising.

I'm betting you a steak tortilla it continues. Although that's part of the equation, it's not all.

CR has tied their currency to the U.S. dollar and unless Dems (I'm not trying to get political here, just stating economic facts) gain a lot of seats in congress Nov 6 and start impairing the economy, the U.S. economy should continue on an upward spiral and debt ridden grossly mismanaged CR will not be able to keep up.

There's only a finite number of coffee, bananas, pineapples and putas CR can sell...

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Don't try to understand 'em, just rope 'em down and brand 'em...

I respectfully disagree.

The rapid expansion of the dollar/colones exchange is far greater for us than what amount of inflation CR will endure, they are already at historic highs for democratic 3rd world somewhat financially stable countries.

If the inflation starts rising rapidly like Venezuela, for example, sadly this little country here will implode and chaos will abound. At this point, I don't see this happening.

But just in case...

I don't want to return to Florida and start working full time again, so I've alerted our pals in Medellin to keep our rooms ready...

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Don't try to understand 'em, just rope 'em down and brand 'em...

Yes Netgems this is great at least for now. Cashed a lot of dollars yesterday at 614. Two years ago my Tica wife finally convinced me to rent only in colones. Well she was right at least this one time lol

I cracked up when you wrote, "Not trying to get political" yet immediately state "Dems start impairing the economy"...

Great trolling!

mh

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mh

I cracked up when you wrote, "Not trying to get political" yet immediately state "Dems start impairing the economy"...

Great trolling!

mh[/quote

Yah, we'll see. Should be interesting...

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" Omit no happy hour that may give furtherance to our expedition."

Well, I'm really not, it may be hard to believe. I'm looking at this situation as an economist or any money guy would. I used to have to assist big money investors in the purchase of rental properties in S Florida for years, so we had to assess political situations as part of the buying decision that would affect interest rates, property value increases, taxes, things like that.

Trust me, a lot of us rejoiced, myself included, when Bill Clinton was elected because Bush senior wasn't doing anything for the economy, so in those days I was gung ho Dem. I support whoever is bringing home the paychecks, and love or hate the current administration, they're bringing home the paychecks.


The stock market and companies that want to come into the USA or expand in the USA always get hesitant when there's a new congressional party coming into power and aggressively opposed to the current President and his administration, that's just been a historic economic fact for decades.

They often sit on the sidelines to see if there's going to be cooperation or gridlock, and if there's gridlock, they sit back and wait to see if it affects job creation, consumer confidence, all those things.

I'm not making any predictions or accusations, and I'm really not trying to pick on anyone, or complain, or say "I support this side and disagree with that side" personally, I'm just going off of historical data.

Perhaps I should have elaborated this info more specifically, I was just stating what I've seen over decades of being in a business where politics affects our paychecks, and whoever brings the best bouquet to the dance, we dance with them, lol.

I'm not red or blue...I'm green....

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Don't try to understand 'em, just rope 'em down and brand 'em...

The Democrats have whole-heartedly embraced socialism with a capital "S".

That ideology has led to economic failure, tyranny, and eventually genocide.

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Any opinion or observation in the post above is purely presented for entertainment purposes and does not promote "sexual tourism" or "human trafficking". The laws of Costa Rica apply to all activities in Costa Rica. No warranty is expressed or implied. Void where prohibited by law. Your experience, observations or perspective may be different.

In exile in pu*sy prison

Well, next time you're in town, give me a call and if it's past this Tuesday, we'll either celebrate or commiserate, lol. But since I started this thread, I don't want to be accused of doing so to "troll" or whatever, but I'll just issue the facts as I see them if I were working with one of my investors and just thinking of how to maximize our gains in a "Capitalist" system, lol.

Number 1, It appears Republicans will keep the Senate and even gain 3 or more seats. They will still have the majority of governors. If the congress turns, here is what to expect.

The Dems will spend a lot of time, if not focus entirely, on attacking and investigating this administration and control the decision making in congress. They will attack and attempt to thwart the administration's every move, in effect, there will be a lot of gridlock.

Many of the sanctions will be voted down and competing countries will be less inclined to cooperate on new trade deals. Many adversaries of the USA will feel they can get away with more mischief, that will make Western markets uneasy. Companies thinking of adding locations, moving to, expanding in the USA will either slow down or hit the brakes entirely.

Job growth will slow down, unemployment will rise, consumer confidence will fall. If there's strong challenges to border control, it could spur repeated increased illegal crossings, it's already at around 2,000 a day, that will impair economies of locations they settle and increase their already high medical costs, incarcerations, etc.,

Both sides will blame each other for the problems and a raucous 2 years of constant hostile fighting will occur.

Enough seeds of economic planning have taken root and we should continue to see expansion, just at a much slower pace and Americans will have to decide in 2020 who they think can trust, both sides will be campaigning early.

So if I were advising a client who wants to purchase a 20 unit rental property I might say, go ahead, if the current administration prevails, property values will increase, if the other one takes power, there will be less home buyers and more renters...we can't lose!!!!

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Don't try to understand 'em, just rope 'em down and brand 'em...

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mh

Netgems, I think it was unjust to call you a troll. MH should apologize, but he won't.
I am apolitical but I respect intelligent comments. Hope this isn't a new flame war, we are divided enough. Let's all go enjoy the chicas.

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" Omit no happy hour that may give furtherance to our expedition."

Excuse me sir, you aren't authorized to speak for me.

Netgems and I know each other, and I suspect he knows where I was coming from with the "troll" comment. And if he doesn't, I will make clear to him in a PM.

Now go poke your nose in someone else's business.

mh

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mh