1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 83.943 CRC (Costa Rican Colon). It is the official currency of Costa Rica. The currency is subdivided into 100 centimos. The name of the currency, Colon, is derived from the Spanish explorer Christopher Columbus (Cristobal Colon in Spanish). CRC has been pegged to the USD based on "crawling peg" so that exchange rates changes monthly. CRC (Costa Rican Colon) is governed by the Central Bank of Costa Rica.