Colombian peso

Colombian peso

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.banrep.gov.co
Valuation
Inflation	9,28% (December 2023)

The Colombian peso (sign: $; code: COP) is the currency of Colombia. Its ISO 4217 code is COP. The official peso symbol is $, with Col$.^[1] also being used to distinguish it from other peso- and dollar-denominated currencies.

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.