The dollar and the euro are “virtually” at the same price internationally: what can we expect in Costa Rica?

QCOSTARICA – The dollar and the euro are “virtually” at the same price internationally, in the face of fears of recession in European markets and the war between Russia and Ukraine.

This Friday, the euro crashed and was quoted at us$1.01, which is the closest figure to the dollar in 20 years. International experts predict that in a few days the two currencies will reach parity.

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What can you expect in Costa Rica?

Financial analyst, Jorge Benavides, explained that the country will have an indirect impact. Financial analyst, Daniel Suchar, explained that Costa Rica has international partners with whom it trades in euros, however, the country’s economy depends on what happens with the US dollar.

“The euro will continue to approach parity unless the ECB adopts a shock measure, such as a 0.50 percentage point increase” in its key rate, estimated Ipek Ozkardeskaya, analyst at SwissQuote.

The dollar is further boosted by a more aggressive monetary policy of the US Federal Reserve (Fed).

“Growing fears of a recession are pushing the euro lower, while the dollar is rising on bets the Fed will aggressively hold rate hikes to rein in inflation,” currency expert Fiona Cincotta told AFP. City Index.

And “PMI [composite purchasing managers’ index] published data [on Tuesday] in Europe highlighted the risk of a slowdown in growth at the end of the second quarter,” she added.

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Capped interest rates

On Friday, published in the official government bulletin, La Gaceta, the maximum interest rates for loans.

For loans in colones, the ceiling is 33.41% and for loans in dollars, it is 27.72%. In the case of microcredits, the maximum interest rate in colones is 47.23% and 39.32% in dollars.

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