The euro traded at the close at 708.92 Costa Rican colones, implying an increase of 1.14% compared to the value of the previous day, when it reached 700.96 Costa Rican colones.
If we consider the data for the last seven days, the euro is showing an increase of 1.51%; despite this, in year-on-year terms, it still retains a decrease of 4%. Compared to previous days, it reversed the data of the previous day when it experienced a decrease of 1.67%, showing in recent days a lack of stability in the results. The volatility for the last week is visibly higher than the numbers achieved for the last year (12.69%), which shows that it shows greater changes than the general trend in value.
In the annual photo, the euro has even changed by a high of 741.46 Costa Rican colones, while its lowest level has been 686.61 Costa Rican colones. The euro is closer to its minimum than its maximum.
The Costa Rican colón, named after the figure of Christopher Columbus, is the legal tender in Costa Rica that is also divided into 100 equal parts called cents.
After its independence, in 1821, the country abandoned the use of the Spanish currency and switched to using the real and then opting for the peso, however, it was until 1986 that the use of the colón as a legal currency was determined.
It should be noted that today the coins in circulation are those of 5, 10, 25, 50, 100 and 500 colones. Before, there were 1 and 2 colones, but these were withdrawn by the Central Bank of Costa Rica and no longer have market value. As for banknotes, there are 1 000, 2 000, 5 000, 10 000, 20 000 and 50 000.
In Costa Rica the coins of 100 colones are also called “a tile”, the 1000 banknotes are known as “a red” and the 5000 colones as “a toucan”, this due to the images that were previously printed on the money on the back.
According to the Central Bank, the economy closed 2021 with growth of 7.6 percent, becoming the highest rate of increase since 2008. It was also placed above all forecasts.
On the other hand, the organization also expects Costa Rican production to show improvements of 5.4 percent by 2022. However, the country will also have to deal with poverty of 23% and unemployment of 14%.
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