Colombian peso
The Colombian peso (sign: $; code: COP) is the currency of Colombia. Its ISO 4217 code is COP. The official peso symbol is $, with Col$. also being used to distinguish it from other peso- and dollar-denominated currencies.
| peso colombiano (Spanish) | |
|---|---|
Banknotes of $50,000 from the 2016 series | |
| ISO 4217 | |
| Code | COP (numeric: 170) |
| Subunit | 0.01 |
| Unit | |
| Symbol | $ |
| Denominations | |
| Subunit | |
| 1⁄100 | centavo (Discontinued in 1984) |
| Banknotes | |
| Freq. used | $2,000, $5,000, $10,000, $20,000, $50,000, $100,000 |
| Coins | |
| Freq. used | $100, $200, $500, $1,000 |
| Rarely used | $50 |
| Demographics | |
| Date of introduction | 1837 |
| Replaced | Colombian real |
| Official user(s) | Colombia |
| Unofficial user(s) | Venezuela |
| Issuance | |
| Central bank | Banco de la República |
| Website | www |
| Valuation | |
| Inflation | 9,28% (December 2023) |
One peso is divided one hundred centavos; however, because of high inflation in the 1970s and 1980s, Colombia ceased issuing centavo coins for circulation in 1984. It remains customary to write monetary amounts with centavos, although it is rare in daily lives and general contexts. The 50 peso coins are still legal tender, but due to its low value and circulation, most cash transactions are rounded to the nearest 100 pesos, while electronic transactions are usually completed to the centavo, even though centavos have practically no purchasing power.