US Dollar Hits Historic Low Against Costa Rican Colón for Second Consecutive Day

The U.S. dollar fell to a historic low against the Costa Rican colón for the second consecutive day, closing at ¢453.94 in the wholesale Monex market on May 15, 2026. This marks the lowest level since the Central Bank began tracking the series in 2007, following Wednesday’s record close of ¢454.49. The decline continues a months-long trend driven by an excess supply of dollars in the private market. Although the Central Bank purchased $17 million to meet non-bank public sector demand, it did not intervene to stabilize the currency or build reserves. This appreciation of the colón reduces purchasing power for tourists, expatriates, and retirees earning income in dollars, while simultaneously lowering costs for imports and foreign debt payments. Export sectors and tourism businesses face squeezed margins as they receive revenue in dollars but pay local costs in colones. The Central Bank has emphasized that its interventions aim to smooth abrupt movements rather than target specific exchange rates. With significant intervention volumes recorded earlier in the year, the exchange rate remains a critical economic indicator for Costa Rica, affecting various sectors differently depending on their currency exposure.