What is the Colombian peso?

Read on for the basics, the history, and a few fascinating facts about the Colombian Peso. Colombia’s currency code is COP and the major issuing bank is the Central Bank of Colombia, or the Banco de la República. This currency comes in the form of bills and coins and is symbolized with a dollar sign, like this: $.

Is the Colombian peso the world's best currency?

The Colombian peso extended its lead as the world’s best currency as its carry remains too appealing for traders even amid intense volatility. The peso breached a 4,000 per dollar psychological level Tuesday, leading gains in Latin America. It’s now up almost 22% since January, by far the best among major currencies. Lea la nota en español.

Is Colombia's peso in trouble?

Colombia’s peso is in trouble, again. Against the U.S. dollar, the peso has shed 20% of its value in a little more than a year and 7% in the last month. Like most Latin American currencies, the Colombian peso bobs up and down like a yo-yo, but its long-term trend is one of weakness.