Colone vs. Dollar

[sunnysadie 0]

For whatever reasons, the dollar is declining in value. Now what? What would you do with your savings/monies invested to maintain it's buying power? Just curious as to what others might be doing...

[newman 0]

For whatever reasons, the dollar is declining in value. Now what? What would you do with your savings/monies invested to maintain it's buying power? Just curious as to what others might be doing...

Consider buying gold/silver

[daveh 0]

I dont live in Costa Rica and dont follow the currency, but I am a big coffee drinker. I see that the price on the international coffee organization website for "other mild arabica", which sounds like CR coffee, is up about 15% this year over the 2009 average. The price also seems to rise in the spring. That seems like it would lead to more dollars in the hands of CR consumers. If true, the hedge is coffee beans. I'm in...

 

Elsewhere, the dollar is the currency of choice in a flight to quality, so may still have a little life left in it.

[Igor 0]

Are locals mainly paid in dollars or colones?

If colones, there might be also political game related to the new president upcoming inauguration, and her desire to prove herself, and gain more popularity.

I have been away from mid March. How do the stores prices behave?

Dollar today is internationally stronger than few months ago, don't see logical reason for its drop in CR.

My guess is that the CR exchange rate is artificial, but for how long is it kept for - ?

[DanaJ 0]

Are locals mainly paid in dollars or colones?-1

If colones, there might be also political game related to the new president upcoming inauguration, and her desire to prove herself, and gain more popularity.

I have been away from mid March. How do the stores prices behave? -2

Dollar today is internationally stronger than few months ago, don't see logical reason for its drop in CR.

My guess is that the CR exchange rate is artificial, but for how long is it kept for - ?

 

-1 It depends on what you are paying for. Rent, we pay in $, the house keeper that now comes in once in awhile we pay in Colones, since that is what she wants. The person that does the next door yard is paid in Colones, the guy we had come in and fix the gate wanted $.

 

-2 The store prices seem to be pretty stable so far. the only things that seem to have gone up are imports.

[sectorbets 0]

Looks like the new government is looking for ways to cap the rise in the colon.

 

http://www.bloomberg.com/apps/news?pid=20601086&sid=aM3rh9kLPGHc

[happy2b 0]

I just checked the rate at:

 

http://indicadoresec...Ventanilla.aspx

 

and it jumped to 513 as of 6:41 tonight!!

 

Can you believe that I exchanged some $ yesterday at 508... So I lost 500 colones for each $100.

 

I am so happy I could do that for others!

Edited May 6, 2010 by happy2b

[David Davis 0]

The interesting thing about all this discussion is that no one in the US seems to use history as a guideline in this discussion. There is nothing under the sum that is new.

 

The timeline between Rome and the US is very similar. Rome has to give the people enterainment in the Forum Free as well as food to keep them happy. get the picture!!

 

that is what we call entitlements and this is killing the US in terms of excessive debt. Same with Rome as well as their decrease in infrastructure decline (same as our problem) which

 

decreases national income. In simple language.....If I have 4 apples and I owe 7 apples to a 3rd party I do not give free apples to someone in another country.

 

David Davis