Colombian peso
Also known as COL$, peso, CO$, CO $, $, Colomb peso
currency of Colombia
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The Colombian peso is the official money used in Colombia for buying and selling goods and services. It matters because it's essential for conducting everyday transactions and business throughout the country.
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The Colombian peso (sign: $; code: COP) is the currency of Colombia. Its ISO 4217 code is COP. The official sign is $, with Col$. also being used to distinguish it from other peso- and dollar-denominated currencies.
One peso is divided into 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 and banking statements are still processed to the centavo, centavos have practically no purchasing power.