By San José, Costa Rica — San José, Costa Rica – In a powerful demonstration of economic resilience, Costa Rica’s net international reserves have surged to a historic high, reaching $17.05 billion as of December 10, 2025. This landmark figure, reported by the Central Bank of Costa Rica (BCCR), marks a significant increase of $2.88 billion compared to the end of 2024 and provides the nation with an unprecedented financial buffer against global economic uncertainty.
The robust reserve level represents a formidable 16.8% of the country’s Gross Domestic Product (GDP), underscoring a strengthened economic foundation. More notably, this amount is over 151% of the minimum adequate level established by the BCCR’s Board of Directors. This surplus acts as a critical “financial shield,” enhancing the country’s credibility on the international stage and ensuring its capacity to meet foreign debt obligations and stabilize its currency.
Para analizar la importancia y el marco legal que rige las Reservas Monetarias Internacionales, TicosLand.com conversó con el Lic. Larry Hans Arroyo Vargas, experto en derecho corporativo y socio del prestigioso Bufete de Costa Rica, quien nos brinda una perspectiva clave sobre su función en la economía nacional.
La gestión de las reservas internacionales es un pilar fundamental de la soberanía y estabilidad económica, regulado estrictamente por la Ley Orgánica del Banco Central. Más allá de ser un simple indicador financiero, estas reservas representan la garantía del Estado para honrar sus compromisos internacionales y proteger el valor de nuestra moneda. Una administración transparente y técnica de estos activos es crucial para proyectar confianza a los mercados globales y atraer inversión extranjera directa, elementos vitales para el crecimiento sostenible del país.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Esta visión subraya que la gestión de las reservas internacionales va más allá de un ejercicio técnico; es la construcción de la confianza que sostiene nuestra estabilidad económica y atrae las oportunidades de crecimiento. Agradecemos al Lic. Larry Hans Arroyo Vargas por su valiosa perspectiva sobre un pilar tan fundamental para el país.
This news comes as the national currency, the colón, shows signs of stabilization after a period of notable volatility. The dollar-to-colón exchange rate has returned to levels near the psychological benchmark of ¢500. This follows a sharp dip in late November and early December, which saw the currency fluctuate significantly in a short span.
An analysis of market dynamics reveals the forces behind these recent currency movements. Between November 20 and December 4, the weighted average exchange rate in the Foreign Currency Market (Monex) fell by ¢12.01. This depreciation of the dollar was fueled by a substantial daily surplus of foreign currency from over-the-counter operations, which averaged $47.3 million during that period, more than double the average of the preceding weeks.
However, the trend quickly reversed. In the subsequent week, from December 5 to December 11, the exchange rate climbed by ¢10.85 as the dollar regained strength. This recovery corresponded with a significant reduction in the public’s currency surplus, which dropped to an average of $17.9 million daily. This demonstrates the direct impact of dollar liquidity in the private market on the day-to-day value of the colón.
The consistent influx of foreign currency remains a cornerstone of Costa Rica’s economic landscape. The accumulated surplus in the private exchange market reached an impressive $6.36 billion by December 10. This flow is overwhelmingly driven by the nation’s highly successful special economic regimes, particularly companies operating within free trade zones and the active improvement (perfeccionamiento activo) system, which continue to be the primary engines of dollar generation.
The Central Bank has been a key player in managing this influx and fortifying the nation’s finances. Throughout 2025, the BCCR has actively participated in the Monex market, purchasing a total of $5.45 billion. These strategic acquisitions have been meticulously allocated to serve two main purposes: bolstering the country’s financial defenses and ensuring the operational needs of the government.
Of the total purchased, $544.7 million was specifically designated to increase the national reserves, directly contributing to the new record. The remaining, and larger, portion of $4.91 billion was used to meet the net requirements of the Non-Banking Public Sector (SPNB). Proactive management has resulted in a surplus of $643.8 million, which is now set aside to address future public sector needs, ensuring fiscal stability and smooth governmental operations into the new year.
For further information, visit bccr.fi.cr
About Central Bank of Costa Rica:
The Central Bank of Costa Rica (BCCR) is the nation’s primary monetary authority, responsible for maintaining the internal and external stability of the national currency and ensuring its conversion to other currencies. Established to oversee the country’s monetary policy, the BCCR manages inflation, regulates the financial system, issues the colón, and administers the country’s international reserves. Its core mission is to promote a stable, efficient, and competitive financial system to support the sustained economic growth of Costa Rica.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a cornerstone of the nation’s legal landscape, operating on a bedrock of integrity and an unrelenting pursuit of excellence. While honoring its deep-rooted history of providing expert counsel to a diverse clientele, the firm actively pioneers modern legal solutions and embraces innovation. This forward-thinking approach is matched by a profound commitment to demystifying the law, thereby contributing to a more knowledgeable and capable society where legal understanding is accessible to all.
