Exchange GBP to CRC - Convert Pound to Costa Rican Colon - Free Online Quote

GBP to CRC Exchange Rate

Currency Exchange Rates for Costa Rica Colón. Currency Information on Costa Rica Colón - CRC— Costa Rican Colon - ₡. The foreign exchange currency code for CRC represents the Costa Rica Colón exchange rate

One of the major issues associated with travelling or moving to another country is the structural, organizational as well as cultural differences that an individual is bound to face. As such, it is imperative for an individual to have a better understanding of the foreign country he or she is about to visit in regard to the regulations surrounding the process of bringing in money into a particular country to facilitate the smooth operation of an individuals activities. The currency used in Costa Rica, the colon, is different from that used in the United States or any other country in the world. Even though most of the businesses in Costa Rica may accept payment in American dollars, it is also important for an individual to have the local currency at their disposal to cater for the small expense which does not call for the forex exchange need. 

With that said, there are various ways in which an individual can bring in money into Costa Rica since there is a restriction on the amount of cash that one can bring into the country. The law allows one to have $10,000 or less in cash. Therefore one can use a credit or debit card(Visa or MasterCard), to pay for goods and services as well as make ATM withdrawals. Many of the business in the country accept the US dollar for payment in addition to the local currency, the Costa Rican colon. 

Even though travellers' cheques are gradually being faced out of use by more advanced and efficient payment systems such as the credit and debit cards, there are still those business operators who receive them for payment of goods and services offered. Most businesses turn down the travellers' cheques, especially for the small amounts of money, because of the long period associated with the processing of the check. 

One of the things that have greatly contributed to growth and development of the Costa Rican economy is the increase it the direct foreign investment which has greatly contributed to resilient consumer spending habits. The colon faced depreciation in in April 2017 which forced the Central Bank to intervene in an effort to improve the performance as well as the stability of the Costa Rican colon against the US dollar. It is also imperative to state that there are different banks in Costa Rica that allow customers to keep their money in multiple currencies for convenience. These include the Bank of Costa Rica, Cathey Bank, The Central Bank of Costa Rica and Scotia Bank among others.

Convert Pound to Costa Rican Colon

Though USD is unofficially accepted in some places throughout Costa Rica, the official currency is the Costa Rican Colon, which is named after Cristopher Columbus – ‘Cristobel Colon’ in Spanish.

There are many nicknames for the different denominations of the Costa Rican Colon; peso, for the colon itself, due to many Latin American countries having had, or still having pesos as the official currency, Teja, one hundred colones, means ‘roof tile’ in Spanish.

Currency Information on CRC. 5, 10, 20, 50, 10 and 500 colon coins are in circulations, as are 1,000, 2,000, 5,000, 10,000, 20, 000 and 50,000 colon banknotes

Convert GBP to CRC exchange rate. Buy and sell British Pounds to Costa Rican Colon. Convert CRC to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to CRC - Convert Pound to Costa Rican Colon for a Free Online Quote.

Related Posts:

  1. XCD
  2. MUR
  3. XAF
  4. RSD
  5. LVL

Company Details

TorFX logo

Get a quick quote

Open Account with TorFX

TorFX are located at:
Penlowarth, Penzance, Cornwall, TR18 4ED

Company Location

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not Share your details!

Bank Exchange Rates Comparison

High St Bank Exchange Rate

All Rights Reserved: Copyright 2006 - 2018 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882