Whether you’re more comfortable with Colombian or Canadian currency, it’s helpful to know the differences between the two, as well as their basic history, so that you can use them effectively, no matter which country you’re in.
If you’re new to Canada or planning a trip to Colombia, it’s smart to be familiar with each country’s form of currency and the payment methods that are used. This way, you’ll have peace of mind and won’t have to deal with any surprises regarding money. If you’re stuck, you can always use a currency converter.
Colombian pesos
The Colombian peso is the country’s legal form of tender. When written, it’s generally abbreviated as the COP and the official peso symbol is the same as the dollar sign. It’s typically presented as Col$ to distinguish it from other currencies that use pesos and dollars.
While currency valuations can fluctuate due to several factors, as of this writing, 100 COP are worth about 0.025 United States dollars, 0.023 Euro, and 0.034 Canadian dollars. Of course, this is subject to change, but generally, a single Colombian peso is worth a fraction of a single Canadian dollar.
As with most major worldwide currencies, there are a range of paper bills and coins of different values:
- 50-peso coins depict a spectacled bear.
- 100-peso coins show a native shrub called a frailejon.
- 200-peso coins have a scarlet macaw on one side.
- 500-peso coins have two kinds of metal and show the image of a native glass frog.
- 1000-peso coins are also made of two kinds of metal and have a picture of a sea turtle.
- 2000-peso banknotes are blue with an image of a Colombian artist named Debora Arango as well as an image of the county’s River of Seven Colors.
- 5000-peso banknotes are brownish and are show a native puya plant on one side.
- 10000-peso banknotes have a reddish color on one side and show the face of Colombian anthropologist Virginia Gutierrez.
- 20000-peso banknotes are orange and show the face of President Alfonso Lopez Michelsen.
- 50000-peso banknotes are a pink-tinted violet, and one side shows the Lost City, which is the indigenous home of the native Tayrona people.
- 100000-peso banknotes have a green hue is an ode to the Amazon, showing the wax palm tree and tropical birds and flowers.
In Colombia’s major tourist destinations, credit and debit cards are widely accepted, but in smaller towns, cash is king, and it’s wise to keep a range of bills and coins on hand for transactions. Taking the time to get to know the nation’s currency will save you time in the long run.
Canadian dollars
If you’re a Colombian ex-pat who has settled in Canada as a permanent resident, making the switch from pesos to dollars may feel like a big deal. Additionally, adjusting to how much things cost in Canada may take some time, especially since a single Canadian dollar (CAD or CA$ or C$) is worth approximately 296,500 Colombian pesos.
Understanding Canadian money can help ensure you’re sending the correct amount without putting yourself in a bind if you’re sending a remittance to family and friends in Colombia.
Canadian currency uses the dollar and cent, just like the United States. While the terms are the same, the exchange rate is different, albeit relatively close. At one point the value of Canadian currency was tied to the value of the British pound and the price of gold, but it is currently determined by its place in the international marketplace.
Canadian coins are produced by the Royal Canadian Mint:
- Pennies have a value of 1/100 CAD. They’re copper in color with the symbol of a maple leaf on them. While no new pennies are being produced, they are still in circulation and may not be accepted by some businesses.
- Nickels are worth 5/100 CAD. They have a picture of a beaver on one side, and despite being worth less than dimes, they’re larger in size.
- Dimes are worth 1/10 CAD and are the smallest coin by size. There’s a picture of a famous Canadian racing sailboat on one side, which can help to distinguish it.
- Quarters are worth 1/4 CAD and are so-named because of their value. They show a caribou with antlers on one side.
- Loonies are large gold coins with a picture of Canada’s national bird, the Loon. They’re worth 1 Canadian dollar and are used in place of paper money and are referred to as Loonies because of the image of the bird.
- Toonies (or Twonies) are worth 2 Canadian dollars and are made of gold- and silver-plated metals so they have a distinctive look. There’s a polar bear on one side and they get their name from the fact that they’re worth $2 (the amount of two Loonies).
Canadian paper money is also known as bills, notes, or banknotes come in an array of colors and values. Measures have been taken to reduce counterfeiting, and each bill has a clear strip with a holograph in it:
- $5 bills are blue. One on side there is an image of an astronaut and a robotic arm used for space missions.
- $10 bills are purple and feature a tribute to the Canadian railroad on one side.
- $20 bills are green and showcase an image of former British monarch, Queen Elizabeth II on one side, and the Canadian National Vimy Memorial on the other.
- $50 bills have a red tint to them and showcase a former Canadian Prime Minister and a Canadian icebreaker ship that is used to help the Canadian Coast Guard navigate the arctic waters.
- $100 bills are relative rare and are yellow. One side shows a tribute to Canadian scientific research, depicting the discovery insulin. It’s notable that many shops will not accept $100 bills because they’re often assumed to be counterfeit.
Whether you’ve arrived in Canada from Colombia or the opposite, understanding the currencies of these countries can help you get around and make purchases stress-free. If you’re sending money between the countries, it’s helpful to understand the different currencies so that you can send the correct amount. Use Western Union’s money transfer app or handle these transactions directly on our website.
