Introduction Of New ¢20.000 Note Delayed
The new ¢20.000 colones notes will not be in the streets next Wednesday and had been announced the Banco Central de Costa Rica (BCCR). The delay is due to problems in the process of distribution of the new bills.
The Central Bank had planned on having the bills in circulation on August 11, saying it will be announcing a new release date on Monday.
The bank would not provide any details of the delay, just saying through a spokesperson that it will hold a press conference at 9am Monday on the issue.
Excitement among merchants and consumers has not been overwhelming, as many consider the new notes will be difficult to handle, too large of a domination to give or get change.
Anyone who has attempted to make a small purchase or pay for a taxi with or get change for a ¢10.000 colones note can attest to the problems of its acceptance, the ¢20.000 will be even worse.
The Central Bank will be issuing some 30 million notes in the economy.