Colombia Exchange Rate - The monetary unit in Colombia is the Colombian Peso. On the exchange markets, the symbol is COP. They no longer divide Pesos into centavos because it has lost so much of its value. The denominations that Pesos are circulated in are 2,000, 5,000, 10,000, and 20,000. The Peso is also circulated in coin form in 100, 200, 500, and 1,000 Peso denominations. To give an indication as to the value of the U.S. Dollar to the Colombian Peso : 1 Dollar = 1,986 Colombian Pesos May 2007.

You can exchange your dollars at the airport in Bogota. They will also exchange traveler's checks in U.S. Dollars, Euro, and Sterling. The exchange rate at the airport is reported to be competitive. It is also reported that banks will usually only exchange U.S. Dollars so if you are bringing any other currency (British, Canadian, Australian, or New Zealand) it is best to exchange at the airport.

You can find plenty of ATMs in the major cities such as Bogota. You will find them mostly in the Centro Internacional and shopping centers in northern Bogota. You will be able to withdraw from the ATMs in Pesos. Remember that banks at your home town will charge high fees for overseas withdrawals so it is always wise to withdraw the maximum daily amount. Maximum withdrawal amounts will vary by ATM however one thing for certain is you will withdraw Pesos in the hundreds of thousands. You should not go to ATMs at night and make sure you scope your surroundings prior to doing a withdrawal.

The larger hotels will exchange U.S. currency and traveler's checks for a small fee which will give a better Colombia exchange rate. Hotels usually cannot exchange any other type of currency.

When leaving the country, you are allowed to exchange your unused Pesos into a maximum of $100 U.S. Dollars at the casa de cambio of the airport.