Add to Favorites
Columbia Peso
Columbia uses the Columbian peso as its currency. Each peso is then divided into 100 centavo. However, the centavo is no longer in circulation, the currency is actually therefore only the peso. It is recognised by the initials COP and is often referred to as the COL $, although in official terms, the symbol for the peso is merely $.
The Banco de la Republica (the Republican Bank) issue and regulate the currency and it is in the form of coins and notes. Coins in current circulation are the 20, 50, 100, 200 and 500 peso coins (but the 20 is not really used much, due to inflation). Notes come in the form of 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000 pesos.
History of the Columbian Peso
The peso has effectively been in use in Columbia since 1837, when it was introduced to replace the real. At this point it was sub-divided into reales, but the centavos were introduced only in 1872, when they first appeared as currency.
The currency has been subject to inflation over recent years and there has been much debate as to whether or not it should be replaced with a new currency that would effectively devalue the peso. However, this is not a move that the government wish to pursue, since it could have quite dire political consequences, although it is likely that this would help to curb inflation. It is simply the case that no government likes to devalue its currency, because it is a public admission that the official currency is practically worthless.
Getting hold of Pesos
Getting hold of Columbian pesos is not quite as easy as you may think. There are ATM machines in most of the towns and cities, so you may think that it is relatively easy to get hold of your money. However, Columbia is quite a dangerous country and so you should only use an ATM machine where you will have some kind of protection and so an ATM machine in a lobby is much safer than going to one that is on the street.
You can exchange money at banks and hotels or even bureaux de changes, but do not be tempted to change money on the street with an unlicensed trader, not only is this potentially asking for trouble in terms of the person ripping you off, but you are also leaving yourself vulnerable to being robbed. US dollars are much easier to exchange than other currencies.
Credit and debit cards are also easy to use and are quite widely accepted in various hotels, shops and restaurants. Just do not let the card out of your sight, for security reasons.
Travellers cheques can be cashed at any bank or financial exchange centre. You will not be able to use them as payment for anything, other than in a major hotel.
Travellers cheques can be safer than taking in lots of cash, or using an ATM, so they may be the preferred option. Again US dollars is the preferred currency, so make sure that you buy them in dollars.
Safety Issues
Columbia is far from a safe country and has one of the highest kidnap risks in the world. Most foreign office/governmental departments from around the world, advise that travel to Columbia is not a good idea, unless it is necessary.
That being said, every year around 18,000 people from the UK alone visit Columbia and many of them experience all that this very beautiful country has to offer, without any problems. However, there are some risks and before the decision is taken as to whether or not Columbia is a country that you would wish to visit, you should at least be aware of the potential problems.
Kidnapping is a real threat, due to the ransom that Columbians think that foreign nationals will bring. There are around 500 kidnaps per year, with people being held for various amounts of time. Many governments have a strict policy that if someone is kidnapped, they will give emotional support, but they will not provide ransom money. So effectively, if you are kidnapped, there may well be no financial support from your government.
Crime is also a particular problem in Columbia. Since the drugs trade is so entrenched in Columbian culture (or sub-culture) it is very hard to distinguish between crimes that are politically motivated and those that are linked to the drugs trade, but the reality is the same, people can experience violent crime, almost anywhere in Columbia apart from perhaps the tourist region of Choco which is now quite famous as a place to go whale watching. The town Bahia Solano, located in this region, is considered to be 'less dangerous' than many other towns but you are still advised that you should only fly in. In 2008, tourists were kidnapped as they approached by road.
Wherever you are in Columbia, you should be wary of anyone approaching you in the street. Often people will try to stop you, then when they have your attention, they will rob you. It may seem rude, but just walk on by, rather than being polite and putting yourself at risk. Drugging people is also quite common and the drugs can take effect quite quickly. Drugs have even been administered through leaflets being handed out that are impregnated with drugs: these guys really know what they are doing.
Avoid any drinks, food or gifts from strangers. They may be impeccably well dressed, seem very genuine and friendly, but it still pays to be on your guard. If you are drugged, then not only will you lose all your valuables, but you will also find that you will probably be ill for several days and may even need hospital treatment. So it is not worth the risk. Often travel advice will say that you will be bale to 'spot' someone who is into drugs etc, but this is not really the case in Columbia, obviously some people look as if they are, but others manage to keep up a façade of respectability, so never become complacent or too trusting.
Make sure that you use only official taxis, since use of any 'unofficial' taxi is almost like giving yourself up as a kidnap victim. Try to avoid hailing a taxi on the street, even if the cab looks genuine. Remember in Columbia, looks can be deceiving, so stay vigilant.
It hardly needs to be said, but walking out at night is simply foolhardy in Columbia. Always make sure that you use an official taxi, or if possible just stay inside your hotel.
In addition to these threats, landmines are also a problem. More people are killed by landmines in Columbia than in any other country. And this is an annual occurrence, not a one off, so if you are leaving the beaten track, then you need to be very wary of landmines. This is particularly true in any rural area, not just a select few locations.
As if these risks were not enough, if you were planning to visit the area of Tolima, you should be aware that in 2008, a volcano erupted here and it is likely that this will erupt again. This may lead to the ice caps melting and floods taking place, so before travelling to this area, make sure that you check out how safe it is to go there.
In Columbia, the state has effectively lost control of some of the more rural areas. This means that the state is unable to intervene and what is more any foreign Embassy will also be extremely restricted in the power it can have in these areas. So if something does happen to you, you are pretty much on your own: which is not a pleasant experience.
But, if you still decide that you want to take a walk on the wild side and visit Columbia, then the final thing you need to do is to make sure that you have an insurance policy that is pretty robust and one that will pay out if you are kidnapped, need hospital treatment or you are drugged. If you simply have a basic 12 months insurance policy, then it is more than likely that you will not be covered for more 'dangerous' locations such as Columbia. So shop around, make sure that Columbia will be expressly covered and basically, if you can't get insurance, or you find that it is simply too expensive for you, don't go. This really is one country where you do need some comprehensive medical insurance.
Overview
Columbia has a significant problem with drugs. This is simply a fact and the whole economy somehow seems to be wrapped up around drugs in one way or another. The drugs traffikers have to get rid of the money they make somehow, so some of it at least makes it way into the local economy. There is also a very real problem with regard to armed groups involved in criminal activities. Yes, a ceasefire and peace agreement was reached in 2005 and yes, perhaps Columbia is safer now than it was around twenty years or so ago. But the reality remains that it is a country that has experienced armed conflict, on quite a large scale for around 40 years and it will take some time for those people who have grown up in that kind of environment to change their thinking and their ways. This simply will not happen overnight, indeed it could well take years.
There are undoubtedly many thousands of people who visit Columbia each year with no problems, but most governments believe these are seasoned and experienced travellers, who have taken the time and the trouble to research specific areas before they travel, find out which are the most safe and which means of transport is safe and secure in order to travel there. The situation in Columbia is such that an area can be safe one month, then unsafe the next, so this is no guarantee, but if you are thinking of travelling there check out a website such as http://www.smarttraveller.gov.au/zw-cgi/view/Advice/?topic=Colombia for up to the minute information about where is safe and where is not and some detailed information about the risk of terrorist attacks etc.
Comment
Well I’m not sure that Columbia would be somewhere I would willingly head to, although it is always interesting to read about the currency. I can’t imagine being able to visit without feeling as if I was in mortal danger all the time, judging by the article above. Perhaps it is best to find out about the currency by reading about it, instead of using it first hand? I’m sure others would agree with this.
— Ian · Nov 30, 12:05 PM · #
I wonder how the risk of danger and terrorism that appears to exist in Columbia affects the currency itself. You would think that such a dangerous place would suffer from a fall in the value of the currency as well, but I don’t really know whether this would actually be the case. It would make sense that it is. Whatever the case may be it looks as though it will be a long time before things improve.
— CShort · Jan 31, 01:57 PM · #