15/10/2006: New series of banknotes
Costa Rica introduced a new series of banknotes featuring enhanced security features to combat counterfeiting and modernize the colón currency.
21/05/1991: Free-floating exchange rate
Costa Rica transitioned to a floating exchange rate regime, allowing the colón's value to be determined by market forces.
29/09/1977: Decimals Introduced
Chile replaced the escudo with the decimal centavo as the subunit of the peso, simplifying its monetary system.
29/09/1975: Floating Exchange Rate
Chile moved from a fixed to a floating exchange rate system, allowing the peso to be determined by market forces.
09/11/1961: Introduction of the Monetary Reform
Costa Rica implemented a monetary reform, replacing the old colón with a new one at a rate of 1 to 100, to combat inflation.
02/01/1958: Introduction of Escudo as Subunit
The subunit of 1/100 peso, called the escudo, was introduced to facilitate smaller transactions in Chile.
30/11/1949: Abolition of the army
After the abolition of the army, the Costa Rican government focused on economic development, leading to stable monetary policies for the colón.
31/12/1925: Creation of the Central Bank of Chile
The Central Bank of Chile was established, gaining authority over the country's currency issuance and monetary policy.
14/12/1917: Establishment of the Central Bank of Costa Rica
The Central Bank of Costa Rica was established to oversee monetary policy, including the management of the colón.
09/04/1896: Adoption of the gold standard
Costa Rica adopted the gold standard, pegging the value of the colón to gold, leading to currency stability.
25/06/1895: Gold Standard Adoption
Chile adopted the gold standard, tying the value of the Chilean Peso to the price of gold and stabilizing its currency.
15/06/1851: First Peso Coinage
The first official peso coins were introduced by the Chilean government, replacing the Spanish colonial currency.
18/03/1850: Introduction of the Costa Rican colón
The Costa Rican colón was officially introduced as the currency of Costa Rica to replace the Spanish real.
12/02/1817: Chilean Independence
Chile gained independence from Spain, leading to the establishment of the Chilean Peso as its official currency.