The Costa Rican Colón (CRC) is the official currency of Costa Rica, a beautiful country in Central America known for its rich wildlife and stunning environment. 

The Colón gets its name from Christopher Columbus, called Cristóbal Colón in Spanish. 

Since its introduction in 1896, the currency has changed several times to match the country’s economic growth and stability. 

It helps people make everyday purchases and larger investments. Knowing about the Colón is essential for anyone who wants to visit or do business in this vibrant nation. Read on to know more.

What is Costa Rican Colon (CRC)

The Costa Rican Colón  (CRC) is the official currency of Costa Rica, a beautiful country located in Central America.

The Central Bank of Costa Rica issues and manages the Colón. This bank controls the money supply and works to keep the currency stable.

People use the CRC for everyday purchases, like buying fresh fruits at markets or paying for services like transportation and dining in restaurants.

You will see the symbol for the Costa Rican Colón as “₡.” Prices in Costa Rica will always be displayed in Colóns unless stated otherwise. 

If something costs 1,000 CRC, that’s how you will see the price written.

Exchange Rate with the US Dollar

The value of the Costa Rican Colón  can change based on the economy and international markets.

The exchange rate stands at 1 USD = 517.48 CRC.

History of the Costa Rican Colón

Before using the Colón, Costa Rica relied on various foreign currencies, including the Spanish real and the Central American peso.

In 1896, the Costa Rican Colón replaced the peso at a rate of 1 Colón = 1 peso. This change marked the beginning of a national currency for Costa Rica.

In 2001, the country introduced a new series of banknotes and coins to improve security and design.

Banknotes of the Costa Rican Colón

The Costa Rican Colón comes in different banknotes, each featuring unique colors, designs, and important figures from Costa Rican history.

• 1,000 CRC: This light blue banknote features a portrait of Juan Rafael Mora Porras, a former president. The size is 140 x 65 mm.
• 2,000 CRC: The 2,000 CRC note is orange and shows a depiction of the famous national tree, the Guanacaste. Its size is 140 x 65 mm.
• 5,000 CRC: This banknote is purple and features a portrait of José María Zeledón, another important historical figure. It measures 150 x 70 mm.
• 10,000 CRC: The 10,000 CRC banknote is yellow and displays a portrait of Claudio Monteverde, known for his contributions to science. Its size is 150 x 70 mm.
• 20,000 CRC: This blue banknote features a portrait of the famous painter Francisco Amighetti. The size is 160 x 75 mm.
• 50,000 CRC: The largest banknote is green and displays a portrait of former president Otilia de la Rosa. It measures 160 x 75 mm.

Coins of the Costa Rican Colón

The Costa Rican Colón also includes various coins for smaller purchases.

• 5 CRC: A small coin, often made of nickel-plated steel, used for minor transactions.
• 10 CRC: This coin is slightly larger and made of the same material.
• 25 CRC: A larger coin, often made of bimetal, used for everyday purchases.
• 50 CRC: This coin is also bimetal and commonly used for transactions like buying snacks.
• 100 CRC: A larger coin, made from a mixture of metals, used for common purchases.
• 500 CRC: This is the largest coin, widely used for everyday transactions.

Costa Rican Colón (CRC) Exchange Rate with Other Currencies

The Costa Rican Colón (CRC) is the official currency of Costa Rica, a beautiful Central American country known for its lush rainforests, diverse wildlife, and vibrant culture. 

The currency is issued and managed by the Central Bank of Costa Rica (Banco Central de Costa Rica).

When considering international travel or business with Costa Rica, understanding the exchange rate of the Colón with other currencies is essential.

• United States Dollar (USD): 1 USD = 604.88 CRC
• Euro (EUR): 1 EUR = 645.72 CRC
• British Pound Sterling (GBP): 1 GBP = 750.12 CRC
• Nigerian Naira (NGN): 1 NGN = 0.77 CRC
• Canadian Dollar (CAD): 1 CAD = 450.33 CRC

Conclusion

It serves as the official currency of Costa Rica and is regulated by the Central Bank of Costa Rica.

This currency features a managed floating exchange rate, meaning its value fluctuates based on market forces, with possible interventions from the Central Bank.

The Colón is divided into céntimos, although these coins are no longer in circulation, and it is available in various banknote and coin denominations.

Costa Rica boasts a diverse and stable economy; however, the country continues to confront challenges such as income inequality, fiscal deficits, and external debt.