Colombia is on the tip of the northwestern part of South America.
Its tip touches Panama and shares borders with Venezuela, Brazil, Peru
and Ecuador. It is a place of cruise boats, Salsa dancing, shopping and
tropical and mountain landscapes. Colombia is also a country where
crime is a serious problem.
The peso is the currency. Its division is 100 centavos equal 1 peso. It trades as COP.
History
The first settlements of Colombia came in the early 16th century. The Province of New Granada arose as the beginnings of the country of Colombia. It became a viceroyalty two centuries later, in 1739. During this early period, cob coins and Spanish money circulated. The cob coins of 1620 featured the pillars of Hercules design.
The 18th century saw the introduction of gold and silver coins. Between 1759 and 1788, there was the full range of gold denominations. These were in ½, 1, 2, 4 and 8 escudos. During the wars of Simon Bolivar and the following strife, both Spanish colonial coins and Royalist coins acted as currency. Only upon finally gaining independence did the decimal currency and a national system begin to take hold.
In 1847, the new regime stated 1 peso equaled 10 reales or decimos. In 1872, a new decimal system took over. In it, 100 centavos equal 1 peso. The decline in value of the currency in 1880, however, produced new issues. In 1907, paper money coins came into being.
Other changes and shifts during the early 20th century changed the standards. New coins and notes appeared in 1910 and 1915. The result is today’s coinage. There are 50, 100, 200 and 500-peso coins. There are also 1,000, 2,000, 10,000, 20,000, 50,000 and 50,000-peso banknotes. The money receiving the most usage are the 1,000 and 2,000 banknotes.
Obtaining Colombian Pesos
It is not difficult to obtain Colombian currency. There are many casas de cambio in larger towns. There rate of exchange may be greater than that of the local financial institutions: the banks. Not all banks, however, will exchange your money. Bancolombia and Banco Unión Colombia are two who will change your money for you.
Cajeros automáticos (ATMs or ABMs) are also in major cities and border towns. You can find them in banks. You can also obtain Colombian currency in hotels. The rates are less favorable. Avoid street changers. They can be rip-off artists. During the exchange, do not take 1,000 pesos. They are no longer legally in circulation. Business people will not accept them.
Protecting Your Currency
In Colombia, activities extend beyond such petty crime as pickpocketing, theft of mobile phones and laptops as purse snatching. Violent crimes are not rare in Colombia. The exception is such places as Cartagena, Providencia Island and San Andrés Island. Exert common sense. Only carry minimal amounts of cash and avoid wearing jewelry. Do not display video cameras or other electronic equipment. Male or female, do not go into a non-tourist bar alone. Take planes if you can do so rather than drive to some places. This reduces the chance of highway robbery.
Using Your Colombia Pesos
The currency of Colombia is the peso. You can use it in the purchase of many things. It is the tender of both rural and urban towns and cities. Use it to purchase the standard fare, emeralds, silver and textiles. Keep the amount small for easy use in the rural districts, craft fairs and markets.
Travel Tips and Warnings
- Unfortunately, Columbia has one of the highest rates in the world for kidnapping.
- The phenomenon of “Express kidnapping” is a feature of Columbian crime. You are lifted from the street, taken to an ATM or ABM and forced to withdraw money.
- Colombia is a violent country in many ways. It is hard on foreigners. You need to avoid many areas of the country. Check with Travel Warnings before you decide to go.
- Security is unpredictable in rural areas. It is not advisable to go to regions bordering Ecuador.
- Be aware the border between Colombia and Panama and Colombia and other countries may be closed during specific times.
- Feel free to wander safely in established tourist regions. These include the Rosario Islands.
- Do try to visit Bogotá with its Plaza de Bolívar and its monumental Catedral Primada.
- Santa Marta offers diving in the bay. It is also on the way to Parque Nacional Tayrona and the legendary “Lost city.”
- Cartagena is home to the infamous Castillode San Felipe Barajas, the Islas del Rosario with its aquarium and the Bóvedas, part of the old city walls, once a munitions or grain storehouse, then a prison.
Overview
Colombia
is a country in conflict. Security reasons deter many travelers both in
business and for pleasure. The situation affects enjoyment of an
otherwise beautiful country. Legally, the country exports coffee,
platinum, crude oil, bananas, sugar and emeralds. Illegally, many
consider it the home of drug lords arranging for transportation of
cocaine out of the country.
For travel information see www.lonelyplanet.com/worldguide/colombia/.
Currency Summary
Current currency: peso
100 centavos equals 1 peso.
Coins: 50, 100, 200 and 500 pesos.
Banknotes: 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000 pesos.