Currency in Colombia
Today Bogotá Pass team will explain you how banking system and currency work in Colombia.
The Colombian currency is the peso ($). There is a limit to the amount of money you can bring with you or take when you leave. Customs can provide you with details.
You should change foreign curency only at hotels, banks and bureaux de change; never on the street.
Exchange rates move up and down daily, and all currencies are referenced against the US Dollar. The largest bureaux the change are to be found in Candelaria including the Central Bank; in the north of the city Unicentro shopping center; carrera 15 between calles 90 and 95 ; Centro Andino shopping center, down calle 72.
The bureaux the change will buy and sell cash and traveller’s checks as well as send and receive international transfers.
Altough the dollar is the main currency on the market, you can sell other currencies as well.
A market reference rate is set for each day, and the bureaux usually charge 2- 3% service commission.
Try to carry only only as much cash (in pesos) as you think you will need for the day. The range is probably between $50.000 COP and $100.000 COP. Local currency is issued in the following denominations:
Coins: $50, $100, $200, $500 and $1.000