Saturday, 31 October 2020

The new Costa Rica banknotes

The current notes will continue in circulation until final withdrawal, a date for this is not yet defined.

(QCOSTARICA) The Banco Central de Costa Rica (Central Bank) will put into circulation a new denomination of banknotes similar to the material used in the ¢1.000 notes currently in circulation.

The new notes are made of a polymer substrate, a compound similar to plastic, but which makes it recyclable. This material makes the notes more resistant and durable and will allow the material to be reused when they reach their useful life.

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The new banknotes will be similar in size, shape and color of the notes currently in circulation, just they will have a different feel. They are ¢20MIL, ¢10MIL, ¢5MIL, and ¢2MIL.

“Although the new banknotes have adjustments in their design and in their structure of security measures to verify their authenticity and combat counterfeiting, they maintain the same characters, motifs, shades and sizes as those currently in circulation,” said the Central Bank.

The new notes will be hitting the streets in “the coming months” according to the Central Bank.

“Once the financial entities conclude the calibration of the banknote processing equipment, ATMs and other devices, necessary tasks for such equipment to recognize the new banknotes, a stage already in process,” the Central Bank said in a statement.

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The ¢50MIL is being taken out of circulation. The others will continue in circulation until final withdrawal, a date for this is not yet defined.

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Q Costa Rica
Reports by QCR staff

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