Moneda Legal Colombiana En Ingles
- noviembre 23, 2022
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In 2018, the Colombian Congress debated whether the peso should be changed to the rate of 1,000 pesos = 1 new peso, with three zeros removed from its face value to facilitate accounting and banking operations. In 2016, a new series of banknotes was introduced, replacing the last three zeros of the value with the word «millet» (thousand), which would allow the printing of the same banknotes, with the word «millet» being replaced by the word «nuevos» (new). The proposal was supported by then-President Juan Manuel Santos, but met with resistance because of the high cost and minimal benefits it would bring, including confusion in a largely cash-based economy, contracts made, and the possibility that future inflation would render changes meaningless. although the reduction in inflation is not part of the expected results of the transition. President Iván Duque did not support the amendment and the proposal is not currently being considered by the government. The state of Táchira has adopted the Colombian peso as legal tender, and the bolivar is rarely used.  In February 2009, the central bank stopped minting 5, 10 and 20 pesos coins. They were still legal tender, but due to their low value and low circulation, most cash transactions were rounded to the nearest 50 pesos. In 1871, Colombia adopted the gold standard and pegged the peso to the French franc at the rate of 1 peso = 5 francs.
This stake existed only until 1886. From 1888, the inflation of the printing press led to a devaluation of Colombian paper money (pegged to the pound sterling at the rate of 5 pesos = 1 pound) and the exchange rate between coins and paper money was set at 100 peso moneda corriente = 1 peso peso. Between 1907 and 1914, coins were issued in «peso p/m», which corresponds to paper pesos. In 1910, the Conversion Board began issuing banknotes in the form of peso oro. In 1931, the United Kingdom left the gold standard and the peso changed its peg to the US dollar at a rate of 1.05 pesos = 1 dollar, a slight devaluation from its previous peg until 1949. Nevertheless, pesos banknotes continued to be issued in oro pesos until 1993. One peso is theoretically divided into one hundred centavos; However, due to high inflation in the 1970s and 1980s, all Centavo coins were discontinued in 1984. The 5, 10, 20 and 50 pesos coins are still legal tender, but due to their low value and circulation, most cash transactions are rounded to the nearest 100 pesos. More than sixty retail banks issued banknotes between 1865 and 1923.
In addition, the notes honour important figures in culture, science and politics and reaffirm recognition of the important role of women in Colombian society.  The new 100,000 pesos note was launched on March 31, 2016, followed by the 20,000 pesos note on June 30, 2016, the 50,000 pesos note on August 19, 2016, the 5,000 pesos note on November 9, 2016 and the 2,000 pesos note on November 29, 2016.  The 10,000 pesos note was issued on 7 December 2016 and completes the new series of banknotes. In December 2010, the Banco de la República issued a 2,000 pesos note, which now contains the number «2» in Braille in the watermark area.  In the early 1860s, banknotes were issued in denominations of 20¢ and 1, 2, 3, 10, 20 and 100 pesos, all denominations also expressed in reales. In 1881, the Banco Nacional introduced banknotes of 20¢ and 1, 5, 10, 20, 50 and 100 pesos. This was followed by the 50¢ notes in 1882 and the 10¢ note in 1885. The 1,000 pesos notes were introduced in 1895 and the 500 pesos notes in 1900. In 1904, the Ministry of Finance took over the production of paper money, issuing notes of 1, 2, 5, 10, 25, 50 and 100 pesos, followed by 1,000 pesos in 1908. In 1910, the Conversion Council introduced 50- and 100-peso notes, followed by 1, 2, 5 and 10 pesos in 1915. In 1918, the 1, 2 and 5 pesos p/m coins were replaced by 1, 2 and 5 centavo coins of the same size and composition.
In 1942, bronze coins of 1 and 5 centavo were introduced, followed by 2 bronze centavos in 1948. Between 1952 and 1958, copper-nickel replaced silver in the 10, 20 and 50 centavos. Between 1857 and 1880, five of the Colombian provinces of Bolívar, Cauca, Cundinamarca, Panama and Santander issued their own paper money. The denominations included 10¢ and 50¢, 1, 2, 3, 5, 10, 50 and 100 pesos. In 1967, copper-coated 1 and 5 centavo coins, as well as nickel-coated 10, 20 and 50 centavo coins and cupronickel 1 peso coins, were introduced, with production of 2 centavos discontinued in 1960. In 1977, bronze 2 pesos were introduced. In 1984, the production of all coins under 1 peso ended. Higher denominations were introduced in the following years of high inflation. In 1980, the 5 pesos coins were introduced, followed by 10 pesos in 1981, 20 pesos in 1982, 50 pesos in 1986, 100 pesos in 1992, 200 pesos in 1994, 500 pesos in 1993 and 1000 pesos in 1996.