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The E-Sylum:  Volume 11, Number 5, February 3, 2008, Article 26

COSTA RICA TO REVAMP CURRENCY, ISSUE LARGER DENOMINATION BANKNOTES

[According to an online report from The Tico Times, Costa Rica
is planning to revamp its currency.  -Editor]

New higher-denomination bills are on the menu for a currency
overhaul scheduled to go into effect in 2010.

The printing of ˘20,000 and ˘50,000 bills is only part of a
paper money revamp that will also include an art redesign, a
change in size and possibly change in material, from cotton
paper to plastic, said Ricardo Rodríguez, treasury director
for the Central Bank.

Rodríguez said the bank has decided to release the higher
denomination bills to achieve a “more equal distribution”
of money. Right now, 70% of cash circulating is in ˘10,000
bills.

In addition to including beefier nominations, Rodríguez said
the new series of bills will vary in length to make them
recognizable to the blind.

To read the complete article, see:
Full Story

  Wayne Homren, Editor

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