Monday May 13, 2024.

Updated Info on Costa Rica's Currency Exchange Rate Trends

 
Amidst the fluctuations in the exchange rate since 2022, which have impacted costs throughout the country including in Las Catalinas, we take a deeper look at Costa Rica’s currency, the colon.

Central Bank Exchange Rate as of Today 

Buy: 508.13 Costa Rican colones per United States dollar 

Sell: 514.66 Costa Rican colones per United States dollar 

The dollar price continues its upward trend, closing the week with a gain of ¢5.57. It has rebounded slightly from the week, marked by the lowest values of 2024. 

In July 2022, the dollar peaked when it was trading at nearly $700, prompting the Central Bank to take action to curb the devaluation. However, since then, it began to decline until it stood at ¢517.06 on January 30, which represented a year-on-year variation of -6.8% and an accumulated -1.0% compared to the end of 2023, according to the Central Bank of Costa Rica (BCCR) 

The Big Mac Index, published by The Economist at the beginning of the year, showed in January that Costa Rica has the sixth most appreciated currency in the world when adjusted by GDP, among 54 analyzed currencies. Economists like Edgar García Álvarez state that the country is growing at a rate superior to 5% annually and that we are seeing other growth markers like the expanding hospitality sector. 

Ensure your currency conversion app is ready to keep track of the latest exchange rates while in town for extended periods of time.