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LOCAL CURRENCY IN COSTA RICA

Would you like to know name of the currency in Costa Rica? The currency used in Costa Rica is called Colón.

The Costa Rican Colón is issued and managed by the Central Bank of Costa Rica. To find out the current currency exchange rates for Colón to other major currencies of the world, click on foreign currency rates.

Costa Rican Currency Information
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The currency used in Costa Rica is called as the Colón. This currency is denoted with the currency sign ? and the ISO 4217 Code for the Costa Rican Colón is CRC. The Colón, is the official currency of the Costa Rica . It is divided into 100 smaller units called céntimo.

The constitution of Costa Rica provides that the Costa Rica government shall have the power to print the Costa Rican Colón and céntimo coins to be used as a legal tender in Costa Rica. The Costa Rican Colón bank notes and Céntimo coins are both designated as "legal tender" in payment of debts.

The Costa Rican Colón bill uses the decimal system, consisting of 100 equal units.

The symbol ?, usually written before the numerical amount, is used for the Costa Rican Colón.

Currently printed bank notes denominations are 1000, 2000, 5000, 10,000, 20,000, 50,000 colones and the coins are minted in the denominations of 5, 10, 25, 50, 100 and 500 colones .

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The Effect of Balance of Trade and Investment on the Value of Costa Rican Colón
Financial analysts regularly cite the balance of trade and investment in Costa Rica as the most important influence on the value of the Colón. The difference between what the Costa Rica exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Colón exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Colón exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Costa Rican Colón.
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