The Colombian peso is the official currency of Colombia. Its symbol is $, the same as that of the US dollar, and its ISO 4217 code is COP. One peso is divided into 100 centavos (cents).
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Other currencies with the denomination “peso” in other countries of the world (Mexico, Argentina, Uruguay, Chile, Cuba, Dominican Republic and the Philippines).
The exchange rate of the euro currency against the peso today, October 11, 2023, is this:
- 1 euro = 4477.16 pesos per euro
- 1000 pesos = 0.22 euros.
History of the Colombian peso
The history of the current Colombian currency is related to the country’s independence.
In Spanish colonial times, Colombia used Spanish reales (Spanish colonial real) and Escudos. These reales were minted in the mint factories of Bogotá and Popayán that manufactured silver coins of ¼, ½, 1, 2, 4 and 8 Spanish reales and gold coins of 1, 2, 4 and 8 escudos.
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The War for Colombian Independence (1810-1819) facilitated Colombia’s emancipation from the Spanish Empire. With it, the colonial period ended and the new American country was allowed, among many other things, to issue its own currency: the Colombian real.
From 1820 until 1837 the Colombian real was the currency of Colombia. There were no subdivisions of the real until after it ceased to be the main unit of the Colombian currency. However, 8 reales were then equivalent to 1 peso and 16 reales to 1 escudo.
At that time the Colombian real continued to circulate about one-eighth of a peso until 1847. This year Colombia decimalized its currency, dividing the peso into 10 reales, each of which was divided into 10 tenths of a real.
This new Colombian real changed its name to the decimal in 1853, although coins denominated in reales were issued again in 1859-1862 and 1880.
Although since 1819 there were 100-cent notes, it was not until 1860 that cents returned to banknotes and until 1872 that cent coins were used.
Between 1871 and 1886 Colombia adopted the gold standard, referencing the value of the peso to the French franc at a rate of 1 peso = 5 francs. This rate was only maintained until 1886.
In 1880, the National Bank of the Republic of Colombia was created, which had among its many functions that of printing paper money (called peso currency), which from 1888 suffered accelerated inflation.
In 1903 the peso was referenced to the pound sterling until 1931 when the United Kingdom abandoned the gold standard. In 1923, the current issuer of Colombian pesos, the Bank of the Republic (Banco Central de Colombia), was created.
Between 1931 and 1949, Colombia abandoned the gold standard, starting to reference the peso against the US dollar at a rate of 1.05 pesos = 1 dollar, a slight devaluation of its previous link. Finally, the inflation of the Colombian currency ended this exchange rate.
Despite not adopting the gold standard since 1931, Bank of the Republic banknotes continued to display their denominations in gold pesos until 1993, when the mentions “gold” and “will pay the bearer” were eliminated from Colombian banknotes.
Colombian peso coins
There are currently coins of the following peso denominations in circulation in Colombia:
- 50 peso coin
- 100 peso coin
- 200 peso coin
- 500 peso coin
- 1000 peso coin ($)
Colombian peso coins
There are, from previous editions, 5 and 10 peso coins still in circulation, although of little exchange value with the euro.
New 1000 Colombian peso coin
But be careful with the 1000 peso coin because, due to its extensive counterfeiting, it was reprinted in 2012, the one you see here being the only legal series in the country.
1 000 colombian pesos coin 2012 Edition
This coin, in circulation since 2012, shows on the obverse the loggerhead turtle (Caretta caretta) that nests on Colombian beaches in the Caribbean and the Pacific and is in danger of extinction due to hunting and pollution.
Colombian peso banknotes
The banknotes in circulation in Colombia have the following denominations of Colombian peso in 2023:
- 2,000 pesos.
- 5,000 pesos.
- 10,000 pesos.
- 20,000 pesos.
- 50,000 pesos and
- 100,000 pesos.
Since 2016, the Bank of the Republic has in circulation in Colombia a new family of banknotes composed of six denominations, each of them dedicated to an illustrious person in the country’s history: $2,000, $5,000, $10,000, $20,000, $50,000 and $100,000.
The new highest denomination note then becomes the $100,000 banknote and the $1,000 banknote is no longer printed, which is still in circulation as of this post update (October 11, 2023).
So that you can easily recognize them, here are the personalities that appear in the new (2016, above) and previous (below) editions of Colombian banknotes in circulation.
Colombian peso banknotes 2016 Edition
100,000 Colombian pesos banknote
The $100,000 note entered circulation in Colombia on March 31, 2016.
It is made with 100% cotton fiber, its dimensions are 153 x 66 mm and its predominant color is green.
It shows on the obverse the image of President Carlos Lleras Restrepo (1908-1994) who was President of Colombia in the period 1966-1970 for the Liberal Party. He is the maternal grandfather of the politician Germán Vargas Lleras.
100 000 Colombian pesos banknotes Obverse
On the reverse you can see the Cocora Valley in Quindío, and the wax palm, the national tree of Colombia. The design is completed by the burrowing bird and the flower of the sevencueros or May flower (tibouchina lepidota).
100 000 Colombian pesos banknotes Reverse
The equivalent value of this banknote in Spain in euros would be today, October 11, 2023, about 21.40 euros.
50,000 Colombian pesos banknote
The $50,000 banknote began circulating in Colombia on August 19, 2016 (the third of the new family). It measures 148 x 66 mm and has violet tones.
It shows on the obverse the Colombian Nobel Prize winner in literature in 1982, Gabriel García Márquez (1927-2014), author of, among other world-famous works, One Hundred Years of Solitude. Law 1741 of December 24, 2014 through which the Nation honors the memory of the Colombian Nobel Prize winner Gabriel García Márquez – a national tribute accessible to children, orders, among other things, (article 5):
Article 5. The upcoming issue of one of the Bank of the Republic’s banknotes or coins will have on one side the figure of the Nobel Prize winner for literature, Gabriel García Márquez.
It also shows a hummingbird pecking at a flower and a burgao snail. The Burgao Snail (Cittarium pica) is a native species that lives on the rocky coasts of the Colombian Caribbean.
It can be found in the Tayrona National Natural Park and other Colombian national parks. Local fishermen from these areas prepare exquisite dishes in restaurants in Cartagena, Santa Marta, Capurganá and San Andrés.
50 000 Colombian pesos banknote Obverse
On the back the Lost City, core of the Tairona culture (Sierra Nevada de Santa Marta). This pre-Columbian culture settled in the departments of Magdalena, Guajira and Cesar, north of the Sierra Nevada de Santa Marta, in the Caribbean Region of Colombia.
In 1498, the Spanish conquistador Fernando González de Oviedo reached these areas of Colombia for the first time. He maintained commercial relations with the Tairona indigenous people, and successive wars until his disappearance 75 years later.
50 000 Colombian pesos banknote Reverse
Also legal tender in Colombia since December 2, 1996, is the 20,000 peso banknote dedicated to the scientist, astronomer, mathematician, economist, poet and engineer Julio Garavito Armero.
The 50,000 peso commemorative banknote dedicated to the Colombian writer Jorge Isaacs is also legal tender in Colombia. As you can see, this note has the peculiarity that its configuration is vertical.
Former 50 000 Colombian pesos banknote Jorge Isaacs
The equivalent value of this 50,000 peso banknote in Spain in euros would be about 10.70 euros today, October 11, 2023.
20,000 Colombian pesos banknote
The $20,000 bibanknote l measures 143 x 66 mm and has orange tones. It was put into circulation in Colombia on June 30, 2016 as the second banknote of the new family.
The obverse is dedicated to the 50th President of Colombia, Alfonso Antonio Lázaro López Michelsen (1913-2007).
Michelsen was a liberal politician, lawyer, professor and Colombian columnist. Son of the president of Colombia Alfonso López Pumarejo, he was President of Colombia in the period 1974-1978 for the Liberal Party. Law 1599 of 2012 of Colombia orders the printing of his effigy on a newly minted coin or banknote.
Look at the detail of his full-length representation. In his hand, Michensen carries a vueltiao hat, which is a Colombian protected designation of origin for Zenú weaving.
20 000 Colombian pesos banknote Obverse
The reverse of the La Mojana canals, a pre-Hispanic hydraulic system, in a settlement of the Zenú people. Also shown is the famous vueltiao hat, typical of the savannahs of Córdoba, Sucre and Bolívar, and one of the main pieces of craftsmanship in Colombia.
20 000 Colombian pesos banknote Reverse
Also legal tender in Colombia since December 2, 1996, is the 20,000 peso banknote dedicated to the scientist, astronomer, mathematician, economist, poet and engineer Julio Garavito Armero.
His research contributed to the development of science in Colombia during the 19th century.
20 000 Colombian pesos banknote Former 2006 Edition
Its equivalent value of the 20,000 peso banknotes to euros today, July 21, 2022, is about 4.28 euros.
10,000 Colombian pesos banknote
The $10,000 Colombian peso banknote measures 66 mm high × 138 mm wide and its predominant color is red. It entered circulation on December 7, 2016 as the sixth and last of the new family.
It shows on the obverse the Colombian anthropologist, Virginia Gutiérrez de Pineda (1921-1999). Gutiérrez de Pineda studied at the Escuela Normal Superior, where she graduated with a degree in Social and Economic Sciences in 1944. She also obtained the degree of Ethnologist at the National Ethnological Institute that same year. She has interesting contributions in the field of family and gender.
10 000 Colombian pesos banknote Obverse
The note dedicates the reverse to the Amazon region of Colombia, along with the Victoria regia flower and the tree frog. The flower of the Victoria regia or Victoria amazonica, is a larger variant of the water lily discovered by Tadeo Henke in Bolivia in 1801. Its habitat is in the shallow waters of the Amazon River. It is found in Bolivia, Guyana, Colombia, Paraguay and Venezuela.
10 000 Colombian pesos banknote Reverse
Also legal tender in Colombia since November 30, 1995, is the 10,000 peso banknote dedicated to the heroine of Colombian Independence, Policarpa Salavarrieta.
10 000 Colombian pesos Former 2005 banknote
The equivalent value of the 10,000 Colombian peso banknote to euros today, October 11, 2023, is about 2.14 euros.
5,000 Colombian pesos banknote
The $5,000 Colombian peso banknote has brown tones and was put into circulation in Colombia on November 9, 2016 as the fourth new note in the new family. This 5,000 peso note measures 66 mm high × 133 mm wide and its equivalent value in euros on October 11, 2023 in Spain would be 1.07 euros.
It shows on the obverse the Colombian poet José Asunción Silva (1865-1996), one of the precursors of modernism. His most recommended work is “The Book of Verses.”
5 000 Colombian pesos banknote Obverse
This banknote shows on its reverse the Colombian moors, a puya plant and a bumblebee. The puya plant is a bromelid of the Bromeliaceae family. These are plants native to the South American Andes and southern Central America.
5 000 Colombian pesos banknote Reverse
Also legal tender in Colombia since September 22, 1995, is the 5,000 peso banknote dedicated to the Colombian poet, José Asunción Silva.
5 000 Colombian pesos former 2005 banknote
2,000 Colombian pesos banknote
The $2,000 Colombian peso banknote began to circulate in the country on November 29, 2016. It is the fifth note of the new family and its equivalent value in euros, in Spain, in October 2023 is very small: about 43 euro cents ( €0.43).
The banknote shows on the obverse the Colombian modern art painter and watercolorist Débora Arango Pérez (1907-2005), an exponent of the expressionist movement.
2 000 Colombian pesos banknote Obverse
On the back is the Caño Cristales River, in the Sierra de la Macarena, known as the river of five colors. The leaves and fruit of the milky tree are also shown. And the bird taken from Arango’s engraving called El recreo – The nuns and the cardinal of Arango (1987).
2 000 Colombian pesos banknote Reverse
Be careful because the previous 2000 peso banknote from the 2005 series is still legal tender. It began its journey on November 17, 2006, and is dedicated to Francisco José de Paula Santander Omaña. This Colombian military man and politician participated in Colombian independence alongside Bolívar.
It looks like this:
2 000 Colombian pesos former 2006 banknote
Euro to Colombian peso exchange rate
The exchange rate of the euro against the peso fluctuates at all times. If you search on Google for “Euro-Colombian peso exchange rate”, you will find dozens of websites (“currency converters”) that offer a “rate” of the day.
You will also see this graph with the prices of that pair of currencies from Google Finance. Something like this (October 11, 2023):
Euro to Colombian peso exchange rate October 11 2023
As you can see, the exchange rate in the last five years has fluctuated between 3,500 and 5,300 pesos per euro. But keep in mind that this graph represents the value of Colombia’s peso “currency” against the euro, and not that of the real currency, which is lower.
In fact, in the currency suppliers in Spain you can today, October 11, 2023, buy pesos at an exchange rate of between 3,055 COP per euro at the airports (Global Exchange supplier) and 4,184 COP, for each euro that Cambiator gives you. Nothing to do with the euro-peso currency exchange today of 4486 pesos / euro.
So, when you see these values on Google and other currency converters like Oanda with your mobile, keep this in mind:
-This is an unofficial rate, and therefore, not reliable. That is, if you click on the “Disclaimer” link, you get this warning from Google Finance: “Google cannot guarantee the accuracy of the exchange rates displayed. Please confirm current rates before conducting a transaction that may be affected by changes in exchange rates.”
-These rates that you see are usually wholesale prices of the Colombian peso currency against the euro currency (currency and banknotes of the same currency are not exactly the same thing);
-These rates can only be had between banks, that is, it is impossible to obtain it as an individual.
If you need pesos in notes you will have to go through the retail banknote market (bank or currency supplier). This means that the pesos have had to be “transported” by someone for you to enjoy them (or purchased from travelers from Colombia, passing through Spain previously). That is to say, moving banknotes from one place to another has logistical costs that will make their sale price (the exchange rate that whoever sells it to you apply) more expensive.
The Colombian peso is a currency that is not very abundant in Spain. For this reason, it is not easy to find it available for sale in currency suppliers. So it is good to anticipate the purchase and order them online to get a better rate.
Where to exchange Colombian pesos in Spain
The 3 most popular places to exchange COP in Spain are banks, currency suppliers and suppliers at the airport.
This is what you need to know about the three options before buying or selling your COPs:
-The airport is undoubtedly the worst exchange option due to the high price at which pesos are sold and bought. The suppliers that operate at the airport (Global Exchange) do not charge you a commission. But they charge more than enough with the high exchange rate margins they apply to you. The profits from this lucrative are distributed between AENA and the supplier that operates at the airport.
-For their part, Spanish banks have the ugly habit of charging commissions for practically everything, as you well know. No large Spanish bank will exchange Colombian pesos for you.
-Finally, currency suppliers that do not operate at the airport do not usually charge you a commission if you purchase your pesos online (home delivery or online reservations with pickup at one of their offices in the city center).
We recommend you see the rates of the currency suppliers that collaborate with Cambiator since they are quite competitive, and vary every day.
Let´s compare: exchanging 1,000 euros to Colombian pesos today
Let’s see how the buy rates of Colombian pesos are today, October 11, 2023, in Spain with 1000 euros, with the help of this comparative table:
| Currency to Buy (COP) | Exchange rate (11 10 2023) | 1000 EUR = |
|---|---|---|
| Airports (Global Exchange)* | 3055,503818 | 3.055.504 COP |
| ING (Global Exchange delivery)* | 3585,886867 | 3.585.888 COP |
| Global Exchange (delivery)* | 3617,322262 | 3.617.322 COP |
| Cambiator (Eurochange) | 4184,100586 | 4.184.101 COP |
*Rates taken from ING, Global Exchange and Cambiator websites today 11th Oct. 2023.
-The Eurochange supplier (collaborator of Cambiator) today has the best euro to Colombian peso exchange rate and does not charge you a commission. For 1,000 euros they would give you 4,184,101 pesos.
-Global Exchange would give you 3,055,504 COP for those same euros at any airport (Madrid, Barcelona, Alicante or Malaga).
-The difference between buying Colombian pesos at the airport or at Cambiator is amazing. That is, 1,128,597 pesos less (which is about 241 euros less at the exchange rate).
For this reason, it is important to avoid expensive places like the airport (they do not charge you a commission but they do charge you a very bad exchange rate) or where they charge you commissions in addition to an “exchange rate” (banks and some currency suppliers that do not collaborate with Cambiator).
The currency suppliers that collaborate with Cambiator do not charge you a commission and also have very competitive rates.
Change euros to Colombian pesos today
To know the euro to peso exchange rate today in currency suppliers, banks and the airport, in Spain, the best thing you can do is use our currency comparator.
Click on the link of your interest below depending on whether you want to buy Colombian pesos or sell them in exchange for euros and you will see where to get the best exchange rate online or in your city (Madrid, Barcelona, Alicante, Valencia, Seville, Málaga, Palma de Mallorca, etc. ):
- Buy Colombian pesos with euros (EUR-COP)
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