What’s the official currency of Costa Rica?

Trivia Crack Question: What’s the official currency of Costa Rica?
Trivia Crack Answer: Costa Rican Colon

About the official currency of Costa Rica

The colon is the official currency of Costa Rica. It replaced the peso as the official currency in 1896. The colon is named after Christopher Columbus. Although the colon is the official currency in Costa Rica, many places also accept U.S. dollars. The colon is divided as 100 centimos. The official currency is still sometimes called pesos, despite the fact that peso have been replaced. Other terms for the official currency of Costa Rica include camas, teja (one hundred colones), rojo (one thousand colones) and tucan (five thousand colones). The one thousand bill is called rojo for its red color; the five thousand bill refers to the toucan printed on it.

One U.S. dollars is worth about 500 colones. The colon is referred to as CRC globally. Coins exist in Costa Rica, but they are rarely used because of inflation. Inflation is a fairly severe issue in Costa Rica and they are attempting to reform taxes and other economic structure to reduce their 5% inflation rate. Reducing inflation should allow the currency of Costa Rica to become more competitive with other currencies, like the dollar, pound and euro. Costa Rica’s focus on agriculture and technology should help it to become a more powerful player on the global scale.

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