Colombian peso COP

The Colombian peso is the official currency of Colombia. The symbol for the Colombian peso is the same as the dollar sign - $. An unofficial abbreviation is COL$, used to distinguish it from the US dollar. Banknotes are available in 2000, 5000, 10,000, 20,000, 50,000, and 100,000 denominations. Although there are also 1, 2, 5, 10, 15, 20, 25, 50, 100, 200, 500, and 1000 peso notes, they are rarely used.

History of the Colombian Peso

The peso became the official currency of Colombia in 1810, replacing the real at a rate of 1 peso = 8 reales. Colombian coins were first minted in 1837. The latest coin series was released in 2012, but coins are rarely used due to economic challenges.

Interesting Facts About the Colombian Peso

Although the Colombian peso is officially divided into 100 centavos, they are virtually unused. Due to economic issues, the smallest commonly used denomination is the 50 peso coin. In cash transactions, all purchases and operations are rounded to the nearest 50 pesos.