Bank of Costa Rica will put recyclable banknotes into circulation
San Jose, Jul 24 (Prensa Latina) The Central Bank of Costa Rica (BCCR) announced the upcoming release of new banknotes printed on polymer substrate, a recyclable compound similar to plastic, with greater durability than the existing ones in the country.
The BCCR press release states that the bills that will enter into circulation in the coming months are of the denominations of two thousand, five thousand and 20 thousand colons (3.50; 8.70 and 34.80 dollars, respectively, at current exchange rates), while the 10 thousand colons - about 17.40 dollars - will be issued later.
It indicates that this process will begin once financial institutions have completed the calibration of banknote processing equipment, ATMs and other devices, so that such equipment will recognize the new banknotes.
The BCCR notes that while the new banknotes have adjustments in their design and security measures to check for authenticity and combat counterfeiting, they retain the same characters, motifs, shades and sizes as those currently in circulation in the country.
It says that 'as usual, once it are put into circulation, the new banknotes will coexist for a certain period with the current ones, which will maintain their value as a means of payment in the national economy, until the date that will be communicated in due course'.
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