The Costa Rican colón is the official currency of Costa Rica, a country located in Central America. It is denoted by the symbol "₡" and the currency code CRC. The colón is named after Christopher Columbus, known as Cristóbal Colón in Spanish, who is attributed with discovering Costa Rica during his voyages.
As a fiat currency, the Costa Rican colón is issued and regulated by the Central Bank of Costa Rica. It is subdivided into 100 units called céntimos. The colón has been in circulation in Costa Rica since 1896, replacing the currency based on the Spanish real.
The exchange rate of the Costa Rican colón varies based on fluctuations in the international currency markets. It is often expressed in relation to the US dollar, with the rate serving as a benchmark for conducting foreign trade and investments within Costa Rica.
The colón is available in various denominations, including both coins and banknotes. The coins are issued in values of 5, 10, 25, 50, and 100 colones, while banknotes are available in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, and 50,000 colones. The designs on the currency showcase important figures, landmarks, and flora and fauna native to Costa Rica.
The Costa Rican colón plays a vital role in the country's economy, facilitating domestic and international transactions, and serving as both a store and measure of value within Costa Rican society.
