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Last week I had a discussion with a friend in Costa Rica about exchange rates. We were wondering why the sol - dollar exchange rate has dropped so dramatically while the colon - dollar rate has remained relatively unchanged over the past couple of years. She just sent me this article from the Costa Rican newspaper, La Nacion. I still haven't figured out the answer to our question, but some of you might find the article interesting: http://www.nacion.com/2013-02-18/Opinio ... -Peru.aspx
Part of the issue is that on a parity basis the Colon is on par with the Dollar, whereas the Sol is 10% undervalued. Over time, the Colon should remain constant and the Sol will appreciate to about 2.29.
Alpineprince wrote: the Sol will appreciate to about 2.29.
Excellent news because airline tickets in Peru are quoted in dollares so if the dollar goes down, the airfare too. And visiting the US because far cheaper. I hope that the dollares go down to 2.29 quickly as I want to invite my gf to Hawaii for her birthday.