The wholesale currency market in Costa Rica opened the week on a note of continued colón strength. Yesterday, the weighted average dollar rate in the Monex system closed at 469.27 colones per dollar. This marked the first time the rate fell below 470 colones and set a new record low since the Banco Central began tracking Monex data in December 2007. The final negotiated price for the day stood at 469.10 colones and is currently at 465.78 colones per dollar.
The drop continued a pattern from the prior Friday close of 470.13 colones. Traders handled higher volumes amid a persistent surplus of dollars entering the market. Inflows from tourism revenue, foreign direct investment, and operations in free trade zones have supplied more dollars than local demand requires. The central bank stepped in during recent sessions to purchase dollars, aiming to slow the colón’s gains and add to international reserves.
This level leaves the dollar at its weakest point in nearly two decades in the wholesale market. Importers and consumers who buy goods priced in dollars now stretch their colones further. Exporters and tourism operators, who often receive dollars but cover costs in colones, face tighter margins from the shift.
The colón has held firm through early 2026 as these dollar supplies outpace needs. Monday’s opening rate reflects the same pressures that pushed the currency lower in recent weeks. Market participants watch the balance of supply and demand closely each session.
The reference rates from the central bank also show the trend, with buy and sell levels aligning near recent lows. Activity in Monex remains the main driver for daily movements in the broader currency market.
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