Costa Rica Colones vs. US Dollar

The form of currency used in Costa Rica is called the colon or colones in its plural form. The currency was named after Christopher Columbus and introduced as the main form of currency in Costa Rica during the year 1896. Today, the Costa Rican colon holds a steady value in relation to the US dollar, but this hasn’t always been the case.

In the past, the Costa Rican colon lost value in relation to the dollar at the rate of 3.294 colones per month. Last year, weakness in the US dollar and the belief that the colon was highly undervalued led to a modification in the way that the colon was valued next to the US dollar. As of October 16, 2006, the Costa Rican colon has been valued at around 517 colones per US dollar.

The colon is similar to the US dol View the rest of this article