Exchange Currency
Colombian peso
The peso is the currency of Colombia. Its ISO 4217 code is COP and it is also informally abbreviated as COL$. As of January 4, 2011, the exchange rate of the Colombian peso is 1843.50 Colombian pesos to 1 U.S. dollar.
In 1871, Colombia went on to the gold standard, pegging the peso to the French franc at a rate of 1 peso = 5 francs. This peg only lasted until 1886. From 1888, printing press inflation caused Colombia's paper money (pegged to the British pound at a rate of 4300 pesos = 1 pound) to depreciate and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente = 1 coinage peso. Between 1907 and 1914, coins were issued denominated in "peso p/m", equal to paper pesos. In 1910, the Junta de Conversion began issuing paper money and, in 1915, a new paper currency was introduced, the peso oro. This was equal to the coinage peso and replaced the old peso notes at a rate of 100 old paper pesos = 1 peso oro. In 1931, when the U.K. left the gold standard, Colombia shifted its peg to the U.S. dollar, at a rate of 1.05 pesos = 1 dollar, a slight devaluation from its previous peg.
Although it never appeared on coins, Colombia's paper money continued to be issued denominated in peso oro until 1993, when the word oro was dropped. Since 2001, the Colombian senate has debated whether to renominate the currency by introducing a new peso worth 1000 old pesos. Such a plan has yet to be adopted.
Between 1859 and 1862, coins were issued by the Grenadine Confederation in silver for ¼, ½ and 2 reals, ¼, ½ and 1 decimal, and 1 peso, and in gold for 1, 2, 5, 10 and 20 pesos. The United States of New Grenada issued silver 1 decimal & 1 peso in 1861.
Beginning in 1862, coins were issued by the United States of Colombia. Silver coins were struck in denominations of ¼, ½, 1, 2 & 5 decimal and 1 peso, together with gold 1, 2, 5, 10 and 20 pesos. With the introduction of the centavo in 1872, silver 2½, 5, 10, 20 & 50 centavos were issued, followed by cupro-nickel 1¼ centavos in 1874 & cupro-nickel 2½ centavos in 1881.
In 1886, the country's name reverted to the Republic of Colombia. The first issues were cupro-nickel 5 centavos. Except for silver 50 centavos (also denominated 5 decimal) issued between 1887 and 1889, no other denominations were issued until 1897, when silver 10 and 20 centavos were introduced. Silver 5 centavos were issued in 1902
In 1907, following the stabilization of the paper money, cupro-nickel 1, 2 and 5 pesos p/m were introduced and issued until 1916. In 1913, after the pegging of the peso to sterling, gold 2½ and 5 peso coins were introduced which were of the same weight and composition as the half sovereign and sovereign. Gold 10 pesos were also issued in 1919 and 1924, with the 2½ and 5 pesos issued until 1929 and 1930, respectively.
In 1918, the 1, 2 and 5 pesos p/m coins were replaced by 1, 2 and 5 centavo coins of the same size and composition. In 1942, bronze 1 and 5 centavo coins were introduced, followed by bronze 2 centavos in 1948. Between 1952 and 1958, cupro-nickel replaced silver in the 10, 20 and 50 centavos.
In 1967, copper-clad-steel 1 and 5 centavos were introduced, together with nickel-clad-steel 10, 20 and 50 centavos and cupro-nickel 1 peso coins, the 2 centavos having ceased production in 1960. In 1977, bronze 2 pesos were introduced. In 1984, production of all coins below 1 peso ended. Higher denominations were introduced in the following years of high inflation. 5 peso coins were introduced in 1980, followed by 10 pesos in 1981, 20 pesos in 1982, 50 pesos in 1986, 100 pesos in 1992, 200 pesos in 1994, 500 pesos in 1993 and 1000 pesos in 1996. However, due to massive counterfeiting problems, the 1000 pesos was withdrawn by stages. By 2002, the coin was out of circulation.
In the early 1860s, the Tesori General de los Estados Unidos de Nueva Granada issued notes in denominations of 20 centavos, 1, 2, 3, 10, 20 and 100 pesos, with all denominations also given in reals. In 1863, Treasury notes of the Estados Unidos de Colombia were introduced for 5, 10 and 20 centavos, 1, 2, 5, 10, 20 and 50 pesos.
More than sixty private banks issued notes between 1865 and 1923. Denominations issued included 10, 20, 25, 50 centavos, 1, 2, 5, 10, 20, 25, 50, 100 and 500 pesos. Uniquely, the the Casa de Moneda de Medellin issued notes denominated in both pesos and sterling, due to the peg of 1 peso = 4 shillings.
In 1881, the National Bank introduced notes for 20 centavos, 1, 5, 10, 20, 50 and 100 pesos. These were followed by 50 centavo notes in 1882 and 10 centavos in 1885. 1000 peso notes were introduced in 1895 and 500 pesos in 1900. In 1904, the Treasury took over paper money production, issuing 1, 2, 5, 10, 25, 50 and 100 peso notes, followed by 1000 pesos in 1908. In 1910, the Junta de Conversion introduced 50 and 100 peso notes, followed by 1, 2, 5 and 10 pesos in 1915.
Regional issues were reintroduced in 1898 and were issued until 1920. Antioquia, Bolivar, Magdalena, Santander and Tolima issued notes, with denominations including 10, 20, 50 centavos, 1, 2½, 5, 10, 20 and 50 pesos.
In 1923, the Central Bank of Colombia took over paper money production and introduced notes denominated in peso oro. The first were provisional issues, overprinted on earlier notes of the Casa de Moneda de Medellin, in denominations of 2½, 5, 10 and 20 pesos. Regular issues followed for 1, 2, 5, 10, 50, 100 and 500 pesos oro. 20 peso notes were introduced in 1927.
In 1932 and 1941, silver certificates were issued for 1 and 5 pesos plata, although 1 and 5 peso oro notes continued to be produced. Treasury notes for 5 and 10 pesos oro were issued in 1938, followed by ½ pesos oro between 1948 and 1953. ½ peso oro notes were also produced by the Central Bank of Colombia in 1943 by cutting in half 1 peso notes.
The Central Bank of Colombia introduced 200 and 1000 peso oro notes in 1974 and 1979, respectively, whilst 1 and 2 peso oro notes ceased production in 1977, followed by 10 pesos oro in 1980, 5 pesos oro in 1981, 20 pesos in 1983 and 50 pesos in 1986. 500 peso oro notes were introduced in 1986 with 10,000 pesos oro following in 1992. Production of 100 peso oro notes ended in 1991, followed by that of the 200 and 500 pesos oro in 1992 and 1993, respectively. From 1993, the word oro was dropped. 20,000 peso notes were introduced in 1996 and 50,000 pesos in 2000.
On November 17, 2006, the 1,000 and 2,000 peso notes were reduced in size from 70×140 to 65×130 mm, because these notes are frequently replaced due to heavy use.
Summary info
Summary information about Colombian peso- ISO 4217 Code:
- COP
- Currency sign:
- $
- Country:
- Colombia
- Subunit:
- centavo
- Coins:
- 20 pesos, 50 pesos, 100 pesos, 200 pesos, 500 pesos
- Banknotes:
- 1000 pesos, 2000 pesos, 5000 pesos, 10000 pesos, 20000 pesos, 50000 pesos
- Central bank:
- Central Bank of Colombia
History
The peso has been the currency of Colombia since 1837. It replaced the real at a rate of 1 peso = 8 reals and was initially subdivided into 8 reals. In 1847, Colombia decimated and the peso was subdivided into ten reals, each of 10 decimos de reals. The real was renamed the decimo in 1853, although the last real coins were struck in 1880. The current system of 100 centavos to the peso was first used in 1819 on early banknotes but did not reappear until the early 1860s on banknotes and was not used on the coinage until 1872.In 1871, Colombia went on to the gold standard, pegging the peso to the French franc at a rate of 1 peso = 5 francs. This peg only lasted until 1886. From 1888, printing press inflation caused Colombia's paper money (pegged to the British pound at a rate of 4300 pesos = 1 pound) to depreciate and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente = 1 coinage peso. Between 1907 and 1914, coins were issued denominated in "peso p/m", equal to paper pesos. In 1910, the Junta de Conversion began issuing paper money and, in 1915, a new paper currency was introduced, the peso oro. This was equal to the coinage peso and replaced the old peso notes at a rate of 100 old paper pesos = 1 peso oro. In 1931, when the U.K. left the gold standard, Colombia shifted its peg to the U.S. dollar, at a rate of 1.05 pesos = 1 dollar, a slight devaluation from its previous peg.
Although it never appeared on coins, Colombia's paper money continued to be issued denominated in peso oro until 1993, when the word oro was dropped. Since 2001, the Colombian senate has debated whether to renominate the currency by introducing a new peso worth 1000 old pesos. Such a plan has yet to be adopted.
Coins
Between 1837 and 1839, the Republic of New Grenada introduced silver ¼, ½, 1, 2 & 8 real coins along with gold 1, 2 & 16 pesos. These were mostly continuations of coins issued before 1837 in the name of the Republic of Colombia but with the escudo denominations replaced by pesos. In 1847, the currency was decriminalized and coins were introduced in denominations of ½ and 1 decimal de real in copper and 1, 2, 8 and 10 reals in silver. ¼ & ½ real coins followed in 1849 and 1850. In 1853, silver ½ and 1 decimal & gold 10 peso coins were introduced, followed by 2 decimal in 1854 & 1 peso in 1855, both in silver. In 1856, gold 5 peso coins were added.Between 1859 and 1862, coins were issued by the Grenadine Confederation in silver for ¼, ½ and 2 reals, ¼, ½ and 1 decimal, and 1 peso, and in gold for 1, 2, 5, 10 and 20 pesos. The United States of New Grenada issued silver 1 decimal & 1 peso in 1861.
Beginning in 1862, coins were issued by the United States of Colombia. Silver coins were struck in denominations of ¼, ½, 1, 2 & 5 decimal and 1 peso, together with gold 1, 2, 5, 10 and 20 pesos. With the introduction of the centavo in 1872, silver 2½, 5, 10, 20 & 50 centavos were issued, followed by cupro-nickel 1¼ centavos in 1874 & cupro-nickel 2½ centavos in 1881.
In 1886, the country's name reverted to the Republic of Colombia. The first issues were cupro-nickel 5 centavos. Except for silver 50 centavos (also denominated 5 decimal) issued between 1887 and 1889, no other denominations were issued until 1897, when silver 10 and 20 centavos were introduced. Silver 5 centavos were issued in 1902
In 1907, following the stabilization of the paper money, cupro-nickel 1, 2 and 5 pesos p/m were introduced and issued until 1916. In 1913, after the pegging of the peso to sterling, gold 2½ and 5 peso coins were introduced which were of the same weight and composition as the half sovereign and sovereign. Gold 10 pesos were also issued in 1919 and 1924, with the 2½ and 5 pesos issued until 1929 and 1930, respectively.
In 1918, the 1, 2 and 5 pesos p/m coins were replaced by 1, 2 and 5 centavo coins of the same size and composition. In 1942, bronze 1 and 5 centavo coins were introduced, followed by bronze 2 centavos in 1948. Between 1952 and 1958, cupro-nickel replaced silver in the 10, 20 and 50 centavos.
In 1967, copper-clad-steel 1 and 5 centavos were introduced, together with nickel-clad-steel 10, 20 and 50 centavos and cupro-nickel 1 peso coins, the 2 centavos having ceased production in 1960. In 1977, bronze 2 pesos were introduced. In 1984, production of all coins below 1 peso ended. Higher denominations were introduced in the following years of high inflation. 5 peso coins were introduced in 1980, followed by 10 pesos in 1981, 20 pesos in 1982, 50 pesos in 1986, 100 pesos in 1992, 200 pesos in 1994, 500 pesos in 1993 and 1000 pesos in 1996. However, due to massive counterfeiting problems, the 1000 pesos was withdrawn by stages. By 2002, the coin was out of circulation.
Banknotes
Between 1857 and 1880, five of Colombia's then provinces, Bolívar, Cauca, Cundinamarca, Panama and Santander issued paper money. Denominations included 10 and 50 centavos, 1, 2, 3, 5, 10, 50 and 100 pesos.In the early 1860s, the Tesori General de los Estados Unidos de Nueva Granada issued notes in denominations of 20 centavos, 1, 2, 3, 10, 20 and 100 pesos, with all denominations also given in reals. In 1863, Treasury notes of the Estados Unidos de Colombia were introduced for 5, 10 and 20 centavos, 1, 2, 5, 10, 20 and 50 pesos.
More than sixty private banks issued notes between 1865 and 1923. Denominations issued included 10, 20, 25, 50 centavos, 1, 2, 5, 10, 20, 25, 50, 100 and 500 pesos. Uniquely, the the Casa de Moneda de Medellin issued notes denominated in both pesos and sterling, due to the peg of 1 peso = 4 shillings.
In 1881, the National Bank introduced notes for 20 centavos, 1, 5, 10, 20, 50 and 100 pesos. These were followed by 50 centavo notes in 1882 and 10 centavos in 1885. 1000 peso notes were introduced in 1895 and 500 pesos in 1900. In 1904, the Treasury took over paper money production, issuing 1, 2, 5, 10, 25, 50 and 100 peso notes, followed by 1000 pesos in 1908. In 1910, the Junta de Conversion introduced 50 and 100 peso notes, followed by 1, 2, 5 and 10 pesos in 1915.
Regional issues were reintroduced in 1898 and were issued until 1920. Antioquia, Bolivar, Magdalena, Santander and Tolima issued notes, with denominations including 10, 20, 50 centavos, 1, 2½, 5, 10, 20 and 50 pesos.
In 1923, the Central Bank of Colombia took over paper money production and introduced notes denominated in peso oro. The first were provisional issues, overprinted on earlier notes of the Casa de Moneda de Medellin, in denominations of 2½, 5, 10 and 20 pesos. Regular issues followed for 1, 2, 5, 10, 50, 100 and 500 pesos oro. 20 peso notes were introduced in 1927.
In 1932 and 1941, silver certificates were issued for 1 and 5 pesos plata, although 1 and 5 peso oro notes continued to be produced. Treasury notes for 5 and 10 pesos oro were issued in 1938, followed by ½ pesos oro between 1948 and 1953. ½ peso oro notes were also produced by the Central Bank of Colombia in 1943 by cutting in half 1 peso notes.
The Central Bank of Colombia introduced 200 and 1000 peso oro notes in 1974 and 1979, respectively, whilst 1 and 2 peso oro notes ceased production in 1977, followed by 10 pesos oro in 1980, 5 pesos oro in 1981, 20 pesos in 1983 and 50 pesos in 1986. 500 peso oro notes were introduced in 1986 with 10,000 pesos oro following in 1992. Production of 100 peso oro notes ended in 1991, followed by that of the 200 and 500 pesos oro in 1992 and 1993, respectively. From 1993, the word oro was dropped. 20,000 peso notes were introduced in 1996 and 50,000 pesos in 2000.
On November 17, 2006, the 1,000 and 2,000 peso notes were reduced in size from 70×140 to 65×130 mm, because these notes are frequently replaced due to heavy use.
COP banknotes pictures gallery
| 1000 Colombian pesos | |
|---|---|
| Banknote of 1000 Colombian pesos has dimensions 130×65 mm and main colors are light apricot, beaver, liver and bisque. Date of first issue of this 1000 pesos banknote is 9 July 2009. | |
 Obverse side of the 1000 Colombian pesos is showing the portrait of Jorge Eliecer Gaitan. |
 Reverse side of the 1000 Colombian pesos is showing the portrait of Jorge Eliecer Gaitan (body until the chest) and a crowd. |
| 2000 Colombian pesos | |
|---|---|
| Banknote of 2000 Colombian pesos has dimensions 130×65 mm and main colors are battleship grey, silver, timberwolf and linen. Date of first issue of this 2000 pesos banknote is 9 July 2009 . | |
 Obverse side of the 2000 Colombian pesos is showing the portrait of Francisco de Paula Santander. |
 Reverse side of the 2000 Colombian pesos is showing the door of the Casa de la moneda. |
| 5000 Colombian pesos | |
|---|---|
| Banknote of 5000 Colombian pesos has dimensions 140×70 mm and main colors are umber, dark gray, platinum and camouflage green. Date of first issue of this 5000 pesos banknote is 7 September 2009. | |
 Obverse side of the 5000 Colombian pesos is showing the portrait of Jose Asunción Silva. |
 Reverse side of the 5000 Colombian pesos is showing the Outdoors and a fragment of the poem Nocturnal. |
| 10000 Colombian pesos | |
|---|---|
| Banknote of 10000 Colombian pesos has dimensions 140×70 mm and main colors are dark chestnut, isabelline, wine and gainsboro. Date of first issue of this 10000 pesos banknote is 7 September 2009. | |
 Obverse side of the 10000 Colombian pesos is showing an image of Policarpa Salavarrieta. |
 Reverse side of the 10000 Colombian pesos is showing the Guaduas main plaza, place of birth of Policarpa Salavarrieta. |
| 20000 Colombian pesos | |
|---|---|
| Banknote of 20000 Colombian pesos has dimensions 140×70 mm and main colors are davy’s grey, platinum, desert sand and pale aqua. Date of first issue of this 20000 pesos banknote is 7 September 2009. | |
 Obverse side of the 20000 Colombian pesos is showing the portrait of Julio Garavito Armero. |
 Reverse side of the 20000 Colombian pesos is showing the Moon, a reference to the Garavito Crater. |
| 50000 Colombian pesos | |
|---|---|
| Banknote of 50000 Colombian pesos has dimensions 140×70 mm and main colors are platinum, raw umber, thistle and bazaar. Date of first issue of this 50000 pesos banknote is 7 September 2009. | |
 Obverse side of the 50000 Colombian pesos is showing the portrait of Jorge Isaacs. |
 Reverse side of the 50000 Colombian pesos is showing a paragraph of La María. |
Useful links
- About Central Bank of Colombia:
- Central Bank of Colombia
- List of currencies:
- Currencies
- Security and design features of COP banknotes:
- COP banknotes
- COP currency on Wikipedia:
- Colombian peso
- Official Website of Central Bank of Colombia:
- www.banrep.gov.co
- Commemorative coins:
- Commemorative Coins