QCOSTARICA — The U.S. dollar exchange has been falling in recent months and this generates great concern in the food industry. This decline hinders the industry’s ability to create jobs, making it difficult to forecast growth and enhance consumer buying capacity.
Currently, the currency is quoted in the Mercado de Monedas Extranjeras (Monex) – Foreign Currency Market – at ȼ510 for buy and ȼ517 for sell, and the dollar exchange reference rate by the Banco Central (Central Bank) ¢513.02 for buy and ¢519.79 for sell, both being the lowest historical figure in recent years.
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“When sales abroad have a significant weight in what is produced nationally and that value plummets in very short periods, the financial stability of companies is put at risk and this is transferred to the internal economy due to factors such as destruction or inability to generate new jobs, uncertainty to project growth scenarios or investment in machinery, equipment and technologies,” highlighted Juan Ignacio Pérez, president of the Cámara Costarricense de la Industria Alimentaria (CACIA) – Costa Rican Chamber of the Food Industry.
If we add to this the reality of increasing production costs in labor and energy, it is impossible to predict an improvement in the purchasing capacity of the national consumer.
“As a group, we call on the Presidency and the members of the Board of Directors of the Central Bank to take the necessary measures immediately and guarantee stability in the short, medium and long term,” added Pérez.
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