Exchange Rate

• The current exchange rate as of July 4, 2009 is 1 U.S. dollar equals 575.01 Costa Rican colones. Every day, the main Costa Rican newspaper, La Nacion, publishes the rate at which the U.S. dollar is bought and sold. It appears in the economía section, under tipo de cambio. Compara is the rate they will pay for the dollar and venta is the rate that they sell it. To give an idea of the variation, on July 9, 2009, the compra is ¢577.64 and the venta is ¢587.14. The amount that you are charged in U.S. dollars should correlate to this. If you are making a large purchase, it is worthwhile to purchase the daily newspaper so that you are sure you are being charged the correct amount.
  
  

Bank Accounts

• One has the option when opening a bank account in Costa Rica to save in either U.S. dollars or in colones. Historically, due to the rates of inflation, one has been better off to save in U.S. dollars.
  
  

Traveler's checks and bank cashier checks from the U.S.

• Traveler's checks and bank cashier checks deposited in a Costa Rican bank take 30 working days before the funds are usable. Many businesses in Costa Rica will not accept them. U.S. postal money orders are not accepted in Costa Rica.
  
  

Credit/Debit Cards

• Credit/debit cards are widely accepted in Costa Rica, especially in the tourist areas. There may be a premium charge to use them, or more likely a discount for cash payment.
  
  

Coins currently available

• Costa Rican coins currently in circulation come in denominations of 5, 10, 20, 25, 50, 100 and 500 colones.
  
  

Paper money currently available

• Costa Rica also has paper money in denominations of 1,000, 2,000, 5,000 and 10,000. The Central Bank of Costa Rica has just announced a plan to make denominations of 20,000 and 50,000 available by March 2010.