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LOCAL CURRENCY IN COLOMBIA

Need to know how much is your money worth in Colombia? The local money in Colombia is called Peso.

The Colombian Peso is issued and managed by the Banco de la República. To find out the current currency exchange rates for Peso to other major currencies of the world, click on foreign currency rates.

Colombian Currency Information
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The currency used in Colombia is called as the Peso. This currency is denoted with the currency sign $ and the ISO 4217 Code for the Colombian Peso is COP. The Peso, is the official currency of the Colombia . It is divided into 100 smaller units called centavo.

The constitution of Colombia provides that the Colombia government shall have the power to print the Colombian Peso and centavo coins to be used as a legal tender in Colombia. The Colombian Peso bank notes and Centavo coins are both designated as "legal tender" in payment of debts.

The Colombian Peso bill uses the decimal system, consisting of 100 equal units.

The symbol $, usually written before the numerical amount, is used for the Colombian Peso.

Currently printed bank notes denominations are 1000, 2000, 5000, 10,000, 20,000, 50,000 pesos and the coins are minted in the denominations of 50, 100, 200, 500 pesos 20 pesos.

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The Effect of Balance of Trade and Investment on Colombian Peso
Financial analysts regularly cite the balance of trade and investment in Colombia as the most important influence on the value of the Peso. The difference between what the Colombia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Peso exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Peso exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Colombian Peso.
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