COSTA RICA

(CRC) Currency News >>

CURRENCY:

Costa Rican Colón - CRC, Symbol ¢

DENOMINATIONS:

NOTE: ¢10,000, 5,000, 2,000 and 1,000

COIN: ¢100, 50, 25, 20, 10 and 5

US DOLLAR ACCEPTED?

Yes, widely.

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards are accepted - however American Express might experience slightly lower acceptance. Please note in some rural areas credit cards are not accepted and cash may be the only accepted form of payment.

CURRENCY EXCHANGE:

Best at bureaux de change and banks if conducted from within Costa Rica. Some hotels might also provide this facility.

TRAVELLER'S CHEQUES:

Not recommended; increasingly less businesses accept travellers cheques. If absolutely necessary, these are best in US dollars.

BANKING HOURS:

Mon-Fri 0800 OR 0900-1500 OR 1800. Due to the varying opening hours, it is recommended to check in advance.

CURRENCY RESTRICTIONS:

Import of local currency only up to the value of CRC 2000, in bank notes only to CRC 500. Export of local currency only to value of CRC 2000. Export and import of foreign currency is unlimited.

COUNTRY OVERVIEW:

Costa Rica's full name is the Republic of Costa Rica. This is a country in Central America and the name translates as "Rich Coast". The capital is San Jose and the official language in Spanish.

POPULATION:

Around 5 million.

ECONOMY:

Costa Rica remains a developing country and has the fourth highest inflation rate in Latin America. The economy here has experienced ups and downs but in more recent years did grow by 5%. Costa Rica is keen to improve its welfare and spends as much as some Scandinavian countries on this. Main industries are ecotourism, pharmaceuticals and electronics as well as financial outsourcing and the development of software. Coffee production is a key element to Costa Rica and is one of the main cash crop exports. Despite the fact that it is a developing nation, levels of education are high which makes investing in this country is attracting interest in foreign investors. Tourism earns a high level of foreign exchange.