The U.S. dollar has fallen to its lowest level against the Costa Rican colón in 20 years, according to the Central Bank of Costa Rica (BCCR).

As of Tuesday, the official exchange rate was set at ₡471 per dollar for purchase and ₡476 per dollar for sale, financial authorities reported. The dollar had not traded at these levels since April 29, 2005.

Exchange rates offered at local banks and financial agencies were even lower than the official rate set by the BCCR. On Tuesday, the lowest rate for buying dollars was quoted at ₡402 at Casa de Cambio Wiz Limitada. The highest rate for selling dollars was quoted at ₡484 at Banco CMB.

Analysts attribute the decline primarily to an oversupply of dollars in the country’s economy. The surplus has been fueled by increased foreign investment, the Central Bank’s exchange rate management policies, rising exports and growth in tourism during the high season, which typically runs from December through May. Together, these are the top factors that have generated much of the dollar surplus in the foreign exchange market.

Major international corporations, including Duracell Inc., a Chicago-based manufacturer of alkaline batteries, specialty cells and rechargeable products, have announced plans to open operations in Costa Rica.

Costa Rica’s exports reached a new record of more than $22.8 billion in 2025, marking a 14% increase compared with 2024. The medical equipment industry continued to be the main driver of export growth, generating more than $10.9 billion, a 25% increase from the previous year.

Tourism remains one of Costa Rica’s leading industries. In 2025, the country welcomed more than 2.6 million tourists arriving by air.

In 2024, the tourism sector generated more than $5.4 billion in foreign exchange earnings.

The BCCR provides banking services to the government and financial institutions, issues domestic currency, regulates commercial banks and other financial institutions, offers economic guidance, conducts research, and publishes monetary and other economic statistics.