Understanding Colombian Peso Currency Exchange: Your Guide to Navigating Money in Colombia

Are you planning your trip to Colombia? Then you’re in the right place! Here at Zebra Fisgona Tours, we’re dedicated to making sure your Colombian adventure goes smoothly, starting with understanding the Colombian peso currency exchange. From knowing where to exchange your money to picking up tips on avoiding scams, we’ve got you covered with all the essentials.

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Colombian Currency Basics

In Colombia, the official currency is the Colombian Peso (COP). For reference:

• 1 USD roughly equals 4,000 COP (though it varies).
• This might sound like a lot, but in Colombia, that amount doesn’t go as far as you might think.

Here’s a quick tip: Colombian peso bills vary in size based on value. The higher the bill amount, the larger the size. This trick makes it easier to identify bills at a glance as you get used to the currency.

Where to Exchange Your Money Safely

When you arrive in Colombia, you’ll need to get some pesos. Here are the best ways to do it:

1. Exchange a small amount at the airport
   The exchange rate at the airport might not be ideal, but it’s convenient to have around 100 USD in pesos on hand immediately.
2. Shopping malls & exchange houses
   We often take our clients to exchange money in shopping malls. These malls usually have multiple exchange houses, allowing you to compare rates. Some popular malls in Bogotá include Andino, Gran Estación, and Centro Comercial Santafé.
3. La Candelaria neighborhood
   La Candelaria is Bogota’s historic center and has several reliable exchange houses with competitive rates. If you’re staying in this area, this might be your best bet.
4. ATMs
   If you prefer withdrawing pesos directly from an ATM, BBVA and Colpatria ATMs are generally the most reliable for international cards. Remember to check with your bank about international fees before using this option.

How Much Cash to Carry Daily

In Colombia, cash is king—especially in smaller shops, markets, or rural areas. Here’s what we recommend:

• For couples: 70-100 USD in pesos daily should be more than enough.
• For small groups (3-4 people): Around 100-150 USD in pesos per day.

Carrying more than this might be risky, as you could accidentally misplace it. If you’re moving around Bogotá, you’ll find that many places now accept cards, but it’s wise to have some cash on hand for smaller purchases.

Cash vs. Card: Which to use and when?

While cash is widely accepted, especially in smaller towns, Bogota has become more card-friendly. Here’s a quick guide:

• Cash discounts: Sometimes, vendors will offer small discounts if you pay in cash, as they avoid card processing fees.
• Credit card fees: Occasionally, you might find vendors who charge extra for card payments to cover their processing costs. So, it’s wise to ask before paying.

Having pesos on hand gives you flexibility, especially when exploring local markets or getting snacks from street vendors.

Avoiding Currency Exchange Scams

To ensure a safe and smooth experience, keep these tips in mind:

1. Always Agree on the Price First
   If you’re buying items from street vendors or paying for services (like a quick massage or a souvenir bracelet), make sure to settle on a price upfront. This can help avoid misunderstandings or inflated charges.
2. Be Wary of ‘Helpful’ Currency Dealers
   Some people on the street may offer to exchange money, but it’s best to avoid these offers. Instead, use official exchange houses, ATMs, or trusted locations.
3. Know the Bills
   Understanding the value and appearance of Colombian bills can help prevent overpaying or getting shortchanged. For example:
   • 100,000 COP (the largest bill) is a bright green.
   • 50,000 COP is purple.
   • 20,000 COP is bright orange.
4. Getting familiar with the color and size differences can be a lifesaver when you’re paying on the go.

What Can You Buy with Colombian Pesos?

To give you a better idea of what things cost, here’s a breakdown of what you can expect to buy with different bills in Colombia:

• 2,000 COP: A small bottle of water
• 5,000 COP: A snack, like a bag of chips
• 10,000 COP: A coffee at a nice café
• 20,000 COP: A basic lunch or a more filling snack
• 50,000 COP: A casual sit-down meal
• 100,000 COP: A nicer dinner or a round of drinks with friends

These estimates give you a general idea, but prices vary depending on the location and type of establishment.

Ready to Experience Colombia with Zebra Fisgona Tours?

With your money matters covered, it’s time to focus on enjoying Bogota! 

Let Zebra Fisgona Tours be your local guide to the vibrant sights and sounds of Bogota. We’re here to show you Colombia as only locals can, so book a tour with us today and dive deep into the authentic Colombian experience.