Wednesday was the last day that ¢1,000 and ¢2,000 bills can circulate in businesses and in the general public. New bills went into circulation in June for these denominations.
Marvin Alvarado, treasurer of the Central Bank of Costa Rica (BCCR), explained that on Thursday anyone who receives an old ¢1,000 or ¢2,000 bill can refuse to accept it.
The old bills may be deposited at banks and other financial institutions until Oct. 31.
After this date, the old bills will only be changeable at the BCCR headquarters in San José.
The phasing out process will begin anew this November when new ¢5,000 and ¢10,000 notes make their debut.