Colombian Peso flag

Colombian Peso

Peso colombiano

Currency Code

COP

ISO 170

Symbol

COP

Native: $

Decimal Digits

2

Rounding: 0

Countries

CO

Using this currency

Currency Units

Major Unit

Name: peso

Symbol: $

Minor Unit

Name: centavo

Symbol:

Value: 0.01

Banknotes

Frequently Used

$1000$2000$5000$10000$20000$50000$100000

Coins

Frequently Used

$20$50$100$200$500$1000

Rarely Used

$5$10

Plural Forms

English Plural

Colombian pesos

Native Plural

Pesos colombianos

Overview

The Colombian Peso is the currency of Colombia, managed by the Bank of the Republic. It has been free-floating since 1999 and has shown relative stability compared to other Latin American currencies.

Economy

  • Colombia is a member of Pacific Alliance, OAS, UNASUR, Andean Community, Mercosur (associate).
  • Main industries include: Textiles, Food processing, Oil, Clothing and footwear, Beverages, Chemicals, Cement, Gold, Coal, Emeralds.
  • Colombia is part of the World Trade Organization.
  • Imports are industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity.
  • Major exports include petroleum, coal, coffee, gold, bananas, flowers, chemicals.
  • GDP: $363.8 billion (2023 est.).
  • GDP per capita: $7,077 (2023 est.).
  • Unemployment rate: 11.2% (2023 est.).
  • Inflation rate: 11.8% (2023 est.).
  • Main trading partners: United States, China, Panama, Ecuador, Brazil, Turkey.
  • Trade agreements: Pacific Alliance, Colombia-US FTA, Colombia-EU FTA, Various bilateral agreements.

History

  • Previous currencies used: Real, Peso oro, Various historical pesos.
  • The current peso was introduced in 1837, though Colombia has had various currency reforms. The peso has been relatively stable since inflation targeting was adopted in 1999.
  • 1837: Peso introduced replacing real
  • 1963: Peso oro introduced
  • 1993: Current peso reintroduced
  • 1999: Adoption of inflation targeting and flexible exchange rate
  • 2008: Global financial crisis impact
  • 2014-2016: Oil price collapse and peso depreciation
  • Exchange rate peg: Crawling peg (1967-1991).
  • Exchange rate peg: Free floating (1999-present).

General Information

  • ISO 4217 Code: COP
  • Symbols: COP/$
  • Currency Subunits: 100 centavos
  • Central Bank: Bank of the Republic (Banco de la República)
  • Monetary Policy: Inflation targeting with 3% target. Free-floating exchange rate with focus on domestic price stability.
  • Bills: 2000 COP, 5000 COP, 10000 COP, 20000 COP, 50000 COP, 100000 COP
  • Coins: 50 pesos, 100 pesos, 200 pesos, 500 pesos, 1000 pesos
  • USD Exchange Rate: Variable (approximately 4000-4200 COP per USD)
  • Pegged To: None (Floating)
  • Capital: Bogotá
  • Population: 51,874,024 (2023 est.)
  • Area: 1,141,748 km²
  • Languages: Spanish (official), English, Indigenous languages (over 60)
  • Time Zones: UTC-5 (Colombia Time)
  • Government Type: Presidential republic
  • Head of Government: President (head of state and government)
  • Independence: July 20, 1810 (from Spain)
  • Ethnic Groups: Mestizo and White 87.6%, Afro-Colombian 6.8%, Amerindian 4.3%, Other 1.3%
  • Religions: Roman Catholic 79%, Protestant 14%, Other 2%, None 5%
  • Literacy Rate: 95.6% (2018 est.)
  • Transport: Road networks, El Dorado International Airport, Atlantic and Pacific ports, limited rail system
  • Communications: Good telecommunications, 70% internet penetration, extensive mobile coverage
  • Energy: Hydroelectric 68%, Natural gas 16%, Coal 8%, Oil 6%, Other renewables 2%
  • Countries Using This Currency: Colombia
  • Data Sources: Central Bank: Bank of the Republic Colombia (banrep.gov.co), Economic Data: DANE Colombia, World Bank, IMF, Trade Data: National Directorate of Taxes and Customs, Demographic Data: DANE Colombia, Geographic Data: Institute of Hydrology, Meteorology and Environmental Studies, Historical Data: Bank of the Republic archives
  • Last Updated: 2025