Colombia currency guide: Understanding the Colombian peso (COP)

Planning a trip to Colombia? Whether you are heading to Cartagena, Medellín, Bogotá, or visiting family and friends, you will likely need to use the local currency: the Colombian peso (COP).

Understanding how the peso works, where to exchange money, and how to pay while travelling can help you avoid unnecessary fees and get more value from your money.

This guide covers everything you need to know about Colombia currency, including practical exchange tips and how to spend with confidence while you are there.

Need to check the latest USD to COP rate? Before exchanging money, compare the current exchange rate and see how much your dollars could be worth in Colombian pesos with Revolut's USD to COP currency converter.

What currency is used in Colombia?

The official currency of Colombia is the Colombian peso (COP). It is issued and regulated by the Banco de la República, the country's central bank.

The peso is represented by the $ symbol, which can sometimes be confused with the US dollar. That is why you will often see the currency code COP or the local shorthand COL$ when exchanging money or making international payments.

One peso is divided into 100 centavos, though centavo coins are no longer in active circulation due to their low value.

Common denominations include:

5 tips for exchanging US dollars to Colombian pesos

Here are five practical tips before converting USD to COP.

1. Check the exchange rate before you travel

Exchange rates move constantly, so check the current USD to COP rate before exchanging money. Compare rates from banks, exchange providers, and digital financial services. Look beyond the headline rate and check for hidden markups or service fees.

2. Avoid exchanging money at airports

Airport exchange counters are convenient, but they are often among the most expensive options. Find better rates through local banks, ATMs, or digital banking solutions once you arrive in Colombia.

3. Pay in pesos whenever possible

When paying by card or withdrawing cash, you may be asked whether you would like to pay in US dollars or Colombian pesos. Always choose Colombian pesos — doing so helps you avoid the unfavorable conversion rates applied by merchants or ATM operators.

4. Watch out for extra fees

The exchange rate is only part of the cost. Before exchanging money or using your card abroad, check for:

• Foreign transaction fees
• ATM withdrawal fees
• Currency conversion markups
• Service or commission charges

Understanding the full cost means no surprises.

5. Use trusted providers for currency exchange

Whether you are exchanging cash, transferring money internationally, or spending abroad, use reputable financial providers. Look for transparent pricing, secure transactions, and clear exchange rate information so you know exactly what you are paying.

Sending money to family or friends in Colombia? Instead of carrying large amounts of cash, explore ways to send money to Colombia securely, and track your transfers directly from the Revolut app.

Using money in Colombia

Colombia is increasingly card-friendly, especially in larger cities like Bogotá, Medellín, and Cali, as well as major hotels, supermarkets, and restaurants. However, carrying some cash is still essential for smaller businesses, local market stalls, taxis, national park entrance fees, and street vendors.

Many tourist-focused businesses may accept euros or US dollars, but paying in pesos is the simpler and more cost-effective option.

Can you use US dollars in Colombia?

Yes, some businesses in major tourist areas and high-end hotels accept US dollars. However, acceptance is not guaranteed, and exchange rates offered by local merchants may be highly unfavorable.

For everyday purchases, having Colombian pesos makes transactions easier and will often save you money.

Can you use a Revolut card in Colombia?

Rather than carrying large amounts of cash or relying on merchant exchange rates, use a Revolut prepaid travel card to manage your spending throughout your trip.

With a physical or virtual card on your phone, you can pay in Colombian pesos (COP) wherever cards are accepted, with the conversion happening automatically at the time of payment. You can also track your spending in real-time through the app, helping you stay on top of your travel budget.

And when you need cash, withdraw pesos from ATMs across Colombia — giving you the flexibility to pay the way you want throughout your trip.

Where can I get Colombian pesos?

You can obtain Colombian pesos through:

• Local banks
• Currency exchange offices
• ATMs in Colombia
• International money services
• Digital banking apps with foreign exchange features

Before travelling, compare rates and fees to find the most cost-effective option for your needs.

Manage your money in Colombia with Revolut

Whether you are travelling, sending money abroad, or managing multiple currencies, Revolut helps you spend internationally with greater transparency. With the Revolut app, you can:

• Exchange currencies: spend in Colombian pesos (COP) with automatic conversion at the time of payment¹
• Track live market rates: monitor real-time exchange rates directly in the app
• Spend like a local: spend abroad with your Revolut card
• Withdraw cash: get no Revolut fee ATM withdrawals, up to $1,200 per month, for paid plans (Metal, Premium)²
• Send money globally: transfer funds internationally with clear, upfront fees.¹
• Budget on the go: track your spending in real-time and stay on top of every transaction.

Make your money more secure and spend with total confidence on your next trip to Colombia.

¹Exchange and global transfer fees, fair usage limits, and Terms and Conditions apply.

²No ATM withdrawal fees within plan limits on a monthly basis. Out-of-network ATM withdrawals are subject to a 2% fee for Standard customers, and a 2% fee for Premium and Metal customers once their plan limits are exceeded. Third-party providers may charge a withdrawal fee. Currency and ATM fair-usage fees apply. Weekend markups on currency exchange will apply.