Why Spending US Dollars in Costa Rica Is Harder Than It Looks
Everyone takes your dollars. That is the problem. Between a strong colon and shop rates, paying in cash dollars is the expensive way to buy anything. The post Why Spending US Dollars in Costa Rica Is Harder Than It Looks appeared first on The Rio Times .
Spending dollars in Costa Rica can be more complicated than it initially appears. While many businesses accept US dollars, they often set their own exchange rates, which are typically less favorable than the official rate published by Costa Rica's central bank. For instance, the central bank rate on August 13, 2026, was approximately 447 colones to buy a dollar and 452 to sell one.
Commercial banks typically offered rates ranging from 444 to 446 for buying and 456 to 459 for selling. This discrepancy means that you could be getting a significantly worse exchange rate than you might expect when making cash payments. In the past, a dollar bought over 500 colones, but now it buys around 450. This decrease in purchasing power affects retirees on fixed incomes and anyone spending large amounts of cash.
It's advisable to break large bills at a bank or ATM to avoid unfavorable rates. Additionally, banks and businesses may refuse damaged or old notes, so bringing clean, recent bills is crucial. For the best exchange rates, it's recommended to use a card that automatically charges the transaction in colones rather than offering dynamic currency conversion, which sets a rate in the merchant's favor.
Withdrawal from bank ATMs, rather than standalone tourist machines, typically incurs lower fees. While some smaller establishments may still prefer dollars, it's generally best to use colones wherever possible, especially at places that accept card payments.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
