Costa Rica considers introducing capital controls – Business Recorder

Costa Rica considers introducing capital controls – Business Recorder

 Costa Rica is considering introducing capital controls to combat so-called hot-money inflows that are putting upward pressure on its currency, Central Bank President Rodrigo Bolanos said on Friday.

From Tuesday to Thursday, the Central Bank bought $125 million of US dollars to maintain its exchange rate within a set band.

Bolanos told Reuters that Costa Rica was studying the experiences of other countries in Latin American such as Brazil, which has introduced measures in recent years to stop overseas investment from pushing up its currency.