- This topic has 1 reply, 3 voices, and was last updated 16 years, 6 months ago by
.
-
Posts
-
I have been monitoring the colon against the dollar on a weekly basis and noted today that the colon has taken a 2%+ dive in the last week. Can anybody explain what has caused this dramatic change in such a short priod of time?
Just a guess but the dollar has been strengthening against all currencies in the last week. Watch oil prices. In the past, the dollar has always mirrored oil since that is the currency which is used to trade oil. However, lately, the opposite has been the case. As oil drops in price, the dollar has strengthened. Economists have all kinds of speculative reasons for this; a perceived halt in the dropping of the Fed rates, a stronger U.S. economy than had been anticipated,… but who knows for sure? Oil dropped Monday and that may be a big part of the cause for the dollar’s rise against the Colon. Aren’t floating currencies fun?
Making sense of short term fluctuations is nigh on impossible. Even the Costa Rica central bank expressed surprise at this move in today’s La Nación newspaper
Day to day rates are best found at the Boanco Centra website aty [ http://www.bccr.fi.cr/%5D
Scott Oliver – Founder
WeLoveCostaRica.com
- You must be logged in to reply to this topic.
