The official currency of Costa Rica is the Costa Rican colón (CRC). The colón is named after Christopher Columbus, who is known as Cristóbal Colón in Spanish, and has been the currency of Costa Rica since 1896. The colón is divided into 100 smaller units called céntimos, and the currency is issued by the Central Bank of Costa Rica. While the US dollar is also widely accepted in Costa Rica, the colón remains the official currency and is used for most transactions within the country.