What currency does Colombia use? Colombia currency guide

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If you’ve been daydreaming about Colombia – Bogotá’s crisp mornings, Medellín’s soft afternoon light, Cartagena’s breezy evenings – you might already be imagining the food, the music, the places you’ll wander into.

However, before your trip becomes real, there’s a simple detail that saves a lot of confusion once you land: Colombia uses the Colombian peso, written as COP, COL$, or sometimes just $.

That last part catches almost every traveler off guard. Picture this: you’ve been in the country for five minutes, you walk into an airport café, you see $12,000 next to an arepa, and your stomach drops.

Twelve thousand dollars? Of course not – but your brain still does that little panic dance. In Colombia, the $ sign doesn’t belong to the U.S. dollar. It belongs to the peso, and locals use it everywhere.

Understanding the currency of Colombia matters for several reasons. Daily budgeting becomes easier, you avoid paying the wrong amount, and you’re less likely to fall for misleading price displays. For people sending money overseas, knowing how the peso behaves helps you estimate how much your loved ones actually receive.

This article will explain what currency does Colombia use, including coins, banknotes, symbols, prices, payment methods, and a bit of fascinating history. Whether you’re a backpacker heading to Medellín, a student studying in Bogotá, or someone sending support back home, you’ll find practical and up-to-date information.

Colombia currency basics (bills, coins, symbols)

First things first – what is the currency of Colombia? It’s the Colombian peso. You’ll see it written in several ways:

$ (used locally on menus, receipts, and signs)
COP (used internationally for clarity and in the forex market¹)
COL$ (used occasionally to avoid confusion with USD)

Coins in Colombia

Coins come in the following denominations:

50 pesos
100 pesos
200 pesos
500 pesos
1,000 pesos

The smaller coins – especially the 50 and 100 – are technically still in circulation, but many Colombians no longer bother with them in daily transactions.

If a store doesn’t have the exact change, they might give you a small candy instead, which is an informal and surprisingly common habit.

Banknotes in Colombia

Banknotes currently in circulation² include:

2,000 COP
5,000 COP
10,000 COP
20,000 COP
50,000 COP
100,000 COP

Each bill has a distinct color and features important Colombian artists, writers, and presidents. You’ll also notice modern security elements such as watermarks, transparent windows, raised textures, and holograms.

Note: Older versions of several banknotes still circulate, so don’t be alarmed if you receive a different-looking 5,000-peso bill.

How prices are written

A supermarket price tag of $10,000 means 10,000 COP, not ten thousand dollars. If you’re messaging family abroad or checking your banking app, you might see:

10,000 COP
or COL$10,000

Both are acceptable.

What does the Colombia currency symbol look like?

Since Colombia uses the $ sign³, visitors often assume items are priced in U.S. dollars. In reality, $ is simply the symbol the country uses for its peso.

Here’s how the $ COP differs from $ USD:

$ inside Colombia = Colombian pesos
Outside Colombia: $ usually means US dollars

When in doubt, look for small lettering. Most restaurants, stores, and taxis list prices without explaining, because everyone locally understands the difference.

However, online platforms, travel agencies, and banks almost always use COP to avoid misunderstandings.

Why you sometimes see COL$

COL$ isn’t used on the streets of Bogotá or Cali; however, it appears often in:

international banking dashboards
currency converter tools
travel websites
global payment platforms

It’s simply a clarifying version of the peso symbol. Still, if you wonder what is the name of Colombia currency, the answer remains the same: the Colombian peso, no matter which symbol you see.

What is the value of the Colombian peso? (2025 overview)

The value of the Colombia money (Colombian peso) changes constantly. Colombia uses a floating exchange rate, meaning its price is determined by supply and demand on global markets.

Why the COP moves up and down

There are numerous factors that influence the peso, such as:

Oil prices:
Colombia exports oil⁴ to various countries from the US and Panama to China and India. Therefore, when global oil prices rise, the peso often strengthens.

Inflation:
Higher inflation can weaken the currency internally and externally.

Regional economic shifts:
The general performance of Latin American economies – including trade relationships, political changes, and investor sentiment – affects Colombia’s currency.

Because of these factors, the peso may feel more volatile compared to currencies like the USD or EUR.

For travelers, this means prices might feel cheaper during some months and noticeably higher during others. For people sending money home, timing can occasionally make a difference in how much the recipient gets.

Check today’s rate

Since the rate changes daily, always verify it before exchanging money or sending funds internationally.

Check today’s exchange rate.

If you send money to Colombia, keep in mind that services like BOSS Money often offer fast delivery, competitive rates, and transparent fees.

Short history: What currency did Colombia use before the peso?

Long before the modern COP existed, Colombia used the Spanish real⁵ during colonial rule. After gaining independence, the country issued its own version called the Colombian real. Over time, reforms and monetary adjustments replaced the real with the peso, which gradually evolved into today’s currency system.

Several redesigns, revaluations, and printing updates later, Colombia now operates with the stable and modern banknotes you see today.

Colombian money: coins and banknotes explained

Let’s take a more detailed look at what’s actually in your wallet when you’re in Colombia.

Coins

Colombian coins are practical for:

bus fares
bakeries
small snacks
short taxi fare adjustments

However, because inflation has reduced their purchasing power, some coins circulate less frequently. Here’s what locals tend to think of each:

50 COP: Rarely used; often ignored.
100 COP: Still around but not especially useful.
200 COP: More common for small transactions.
500 COP: Very common.
1,000 COP: The most widely used coin.

Banknotes

The banknotes are easier to work with because prices in Colombia often require larger values.

Design and Colors:
Colombia’s banknotes are colorful and designed to be easily distinguishable. For instance, 2,000 COP is light blue⁶, 5,000 COP is Brownish-red, 20,000 COP is Orange⁷, and 50,000 COP is Violet⁸.

Security Features:
Modern Colombian bills include watermarks of historical figures, ultraviolet markings, security threads, raised textures for accessibility, and metallic strips.

These features help prevent counterfeiting, especially important in major cities where tourism is high.

Prices in Colombia: How much things cost

One of the charms of Colombia is that you can have a great trip without emptying your wallet. Of course, costs differ: Cartagena’s Old Town can cost double what you’d spend in Bogotá or Bucaramanga. But overall, Colombia remains increasingly accessible.

Here’s what you’re likely to pay:

Coffee:
$5,000–$9,000 COP for a regular cup. Specialty coffee shops may charge more, especially in hip neighborhoods in Bogotá or Medellín.

Lunch:
$12,000–$15,000 COP for a classic "menú del día," which usually includes soup, a main dish, a drink, and sometimes dessert.

Taxi (within the city):
$5,000–$10,000 COP for short trips, while $50,000–$120,000 COP for longer routes. Apps like InDrive, Beat, and Uber operate in some cities, which can help with transparency on pricing.

Hostel:
$25,000–$50,000 COP for a dorm bed, while $75,000–$200,000 COP for a private room.

Domestic Flight:
$150,000–$250,000 COP or more depending on demand and airline.

For travelers thinking in USD, these can translate to a wide range depending on the exchange rate, so it’s best to check live updates rather than relying on fixed conversions.

Can you use USD in Colombia?

Many travelers wonder before their trip: Can I use USD in Colombia? It’s a common, understandable question, especially since the dollar is widely accepted in several Latin American countries.

However, Colombia is not one of them. The short (and simple) answer is no – you can’t rely on U.S. dollars for everyday purchases. Colombia’s economy runs on the Colombian peso (COP), and nearly all daily transactions require local currency.

Where USD might be accepted

There are a few exceptions, but they are limited to places that regularly serve international visitors. You may be able to use U.S. dollars at:

Large hotel chains that cater to foreign tourists
Tourist tour agencies, especially those selling multi-day packages
Airport kiosks where travelers often arrive without pesos
Upscale souvenir or specialty shops in major tourist zones

Even in these cases, the business chooses its own exchange rate, which is almost always worse than the official rate. You’ll likely pay more than you need to.

Where USD is not accepted

Most of the country operates on a strict COP-only basis. This includes:

Grocery stores and supermarkets
Drugstores and pharmacies
Local cafés and bakeries
Street food vendors
Taxis and ride services
Buses and public transportation
Hair salons and small service shops
Night markets and local craft fairs

In short, if you step outside the tourist areas – even by a few blocks – you’ll need pesos. To avoid unnecessary costs and headaches, it’s best to exchange a reasonable amount of COP or withdraw cash from an ATM once you arrive.

How to pay in Colombia (cards, cash, digital wallets)

Colombia uses a blend of modern payment systems and long-standing habits, so visitors quickly notice that the country doesn’t rely on just one method.

Depending on where you go – whether it’s a busy neighborhood in Bogotá or a small town in the coffee region – you may find that certain payment options work smoothly while others are barely recognized.

Cash

Even though card usage has increased dramatically over the last decade, cash remains very important, especially outside major cities.

Local markets, fresh fruit stands, small bakeries, and many mom-and-pop shops still expect cash payments. The same goes for some taxis, food carts, and rural services where card terminals simply aren’t available.

It’s smart to carry a range of bill sizes. Many shops can’t break a 100,000-peso note, and even a 50,000-peso bill may cause trouble in smaller towns. Keeping a few 2,000, 5,000, 10,000, and 20,000-peso bills will make daily spending much easier.

Credit and Debit Cards

Card payments are widely accepted in cities like Bogotá, Medellín, Cartagena, and Cali.

Here’s what travelers should know:

Visa and MasterCard are the most reliable and work in supermarkets, restaurants, hotels, and malls.
American Express works in some larger establishments but is far less common.
A handful of businesses may charge a small extra fee for foreign cards, especially when paying with credit.
ATMs are plentiful; however, it’s safer to use machines attached to major banks rather than isolated ones in convenience stores.
International cards work well overall, but it’s still wise to carry backup cash.

Digital Wallets

Colombia has its own digital payment ecosystem. Apps such as Nequi and Daviplata are extremely popular, used for everything from splitting bills to paying taxis.

However, these wallets require:

A Colombian mobile number
A national ID (cédula)

Because of these requirements, most foreigners can’t activate these apps.

Google Pay and Apple Pay are slowly appearing in modern supermarkets, cafés, and retail chains, but coverage is inconsistent, and many businesses still prefer traditional card payments.

Sending money to Colombia: what to consider

When sending money to Colombia, it’s important to understand a few key factors that can affect how quickly and reliably your transfer arrives.

Reliability:
Always choose a service with a proven track record. Unreliable providers may delay your transfer or fail to deliver it entirely, which can cause stress for both you and the person waiting in Colombia. Read reviews and check customer support options as they can help you avoid problems.

Speed:
Transfer times vary widely. Some services send money instantly, while others take two to five business days. If you’re helping someone in an emergency or need funds delivered quickly, look for a provider that guarantees fast or same-day delivery.

Exchange Rates:
Colombia’s peso can fluctuate often. Even a small change in the exchange rate can affect how much money your recipient receives. It’s helpful to compare rates between providers before sending, especially for larger amounts.

Fees:
Banks often charge high transfer fees and may hide extra costs inside their exchange rates. Comparing total costs – fees plus rate – gives you a clear picture.

If you’re planning to send money to Colombia, services such as BOSS Money often offer lower fees and faster delivery compared to traditional banks, plus competitive rates without hidden charges.

FAQs

What currency does Colombia use?

Colombia uses the Colombian peso (COP). It’s the only official currency accepted for everyday purchases across the country.

What is the symbol of the Colombian peso?

Locally, the peso is represented with the symbol $, just like the U.S. dollar. Internationally, it’s written as COP or sometimes COL$ to avoid confusion.

Can I use USD in Colombia?

Typically, U.S. dollars are not accepted for regular transactions. Only some hotels, airport shops, and tour operators may take USD, and often at unfavorable rates.

Is Colombia expensive?

Colombia is considered moderately priced compared to many Western countries. Large cities like Bogotá and Medellín can be costlier, while smaller towns tend to be more affordable.

Does Colombia accept credit cards?

Yes, credit cards are widely accepted in urban areas, especially Visa and MasterCard. However, small shops, kiosks, and rural businesses may only take cash.

What was the old currency of Colombia?

Before the peso, Colombia used the Spanish real during the colonial era. It later transitioned to the Colombian real before adopting the modern peso.

Is it safe to exchange money on the street?

No, exchanging money on the street is risky and can expose you to scams or counterfeit bills. It’s much safer to use banks, authorized exchange offices, or trusted ATMs.

Sources: all third party information obtained from applicable website as of November 30, 2025

https://www.manorfx.com/blog/colombian-currency-facts-every-traveller-should-know/
https://corporatefinanceinstitute.com/resources/foreign-exchange/colombian-peso-cop/
https://www.trade.gov/country-commercial-guides/colombia-business-travel
https://tradingeconomics.com/colombia/exports-by-country
https://coleccioneseldorado.com/en/blogs/noticias/las-primeras-monedas-de-colombia-real-colombiano
https://www.leftovercurrency.com/exchange/colombian-pesos/current-colombian-peso-banknotes/2000-colombian-pesos-banknote-debora-arango-perez/
https://www.leftovercurrency.com/exchange/colombian-pesos/current-colombian-peso-banknotes/20000-colombian-pesos-banknote-alfonso-lopez-michelsen/
https://www.leftovercurrency.com/exchange/colombian-pesos/current-colombian-peso-banknotes/50000-colombian-pesos-banknote-gabriel-garcia-marquez/

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