Costa Rica Money

History

The Spanish introduced the first real currency to Costa Rica in the 16th century. Known as pesos, these coins were originally manufactured in Spain and transported to Costa Rica, but were later minted in Peru after gold and silver mines were discovered here. The two original denominations – the golden “Escudo” and the silver “Real” – were used for exchanges, with the “Real” being used for most daily transactions.

Following Costa Rica’s independence from Spain in 1821, it joined the Federal Republic of Central America and adopted the Republic’s currency. After Costa Rica separated from the Republic in 1838, its currency again changed. The change was reflected in the coin design, which used coffee and tobacco symbols, the two main exports at the time. When the Republic of Costa Rica was officially declared in 1848, new symbols – a flag and a shield – were adopted and have continued to be used since.

In 1993, Costa Rica began printing the so-called “new currency,” which cost much less to manufacture. Still in use today, this currency consists of golden coins made of bronze coated steel, in addition to 5 and 10 colónes coins made from aluminum.

Stability

The only thing you need to worry about during your holiday in Costa Rica is enjoying yourself. Not only is the Costa Rican government stable, the nation is known as the most stable country in Central and Latin America. This stability carries over into Costa Rica's economy; you will have no difficulty accessing money in Costa Rica upon your arrival or departure.

Practical Matters

US dollars are widely accepted in Costa Rica, especially at upscale hotels and restaurants—some places even list their prices in US dollars to make it easier for international travelers. For smaller services (including local meals or public transportation), be prepared to pay with colónes.

How much does a day in Costa Rica cost?

Day-to-day spending is modest next to lodging, private guides and transfers, which make up most of a trip's cost. Prices are higher than elsewhere in Central America: a casado at a local soda is inexpensive, international menus in Arenal, Monteverde and Tamarindo cost more, and upscale restaurants and beach towns price close to U.S. levels. Rough daily budgets by travel style:

Budget travelers can survive on around US$30 to US$40 a day. This covers basic transportation, lodging, and food. Rooms in budget hotels usually run around US$10 to US$20 per person and may include private or shared bathrooms. Meals at local restaurants (called sodas) usually go for around US$3 to US$4.

Midrange travelers usually spend US$50 to US$100 per person per day. Hotels in this range are more comfortable and offer a good list of amenities; these usually go for around US$30 to US$80 a night. Restaurants in this category offer meals for US$5 to US$10.

High-end travelers will find a number of upscale hotels and restaurants in Costa Rica. Nicer hotels start at around US$90 and are often found in more developed areas, although there are some impressive eco-lodges in remote destinations. Meals at the best restaurants begin at around US$20.

Hotels are generally more expensive during the dry season (December to April) and holidays, including Christmas, New Years, and Semana Santa.

Can I use credit cards and ATMs in Costa Rica?

Yes. Major credit cards are widely accepted at hotels, restaurants, tour operators and shops, and ATMs (cajeros automáticos) are found throughout the country. Cash still matters for small purchases: family-run sodas, pulperías (corner stores), markets, roadside fruit stands and some galleries may not take cards, so carry some colones and small US bills.

Before you leave, tell your bank you'll be in Costa Rica so it doesn't block your transactions, and check whether your card charges a foreign-transaction fee. ATMs need a four-digit PIN; use machines inside banks or well-lit businesses and cover the keypad as you type. US dollars are the easiest foreign currency to exchange at banks; Canadian dollars are very hard to change locally.

Colones come in banknotes of ₡1,000, ₡2,000, ₡5,000, ₡10,000 and ₡20,000, and coins from ₡10 to ₡500. On 23 September 2026 the official reference rate was about ₡450 to the US dollar.

What taxes and tips should I expect in Costa Rica?

A 13% value-added tax (IVA) applies to most goods and services, and restaurants add a 10% service charge to the bill. You don't have to tip on top of that, but a little extra in cash for a waiter who looked after you well is appreciated, because the service charge is shared among the staff.

Elsewhere, tipping is a thank-you for good service, never an obligation. Many service workers rely on tips, so travelers commonly tip naturalist guides, private drivers, boat captains and housekeeping staff, typically US$1 to US$10 a day depending on the service, or 10 to 20% of the tour price for a guide who made your day. Tip in cash, in dollars or colones. Taxi drivers don't expect a tip.

What souvenirs should I buy in Costa Rica?

Coffee is the classic Costa Rica souvenir: buy whole beans from a farm you visited or a specialty roaster. Other good buys are hand-carved wooden bowls and boxes, painted oxcart miniatures from Sarchí, the Central Valley town known for its woodwork, plus local chocolate, textiles and art.

Avoid anything made from wildlife, including shells, coral, feathers and turtle products, and never buy pre-Columbian artifacts. Costa Rica restricts the export of archaeological items, antiquities and wildlife species, and visitors can be fined for taking even seashells. Juan Santamaría airport (SJO) has plenty of shops for last-minute gifts. Your Costa Rica Insider can fit a coffee farm tour or a stop in Sarchí into a transfer day.