Peso Oro History

Register to read the introduction… In 1847, Colombia decimalized and the peso was subdivided into ten reales, each of 10 decimos de reales. in 1871, Colombia went on to the gold standard, pegging the peso to the French franc at a rate of 1 peso = 5 francs. This peg only lasted until 1886. Between 1907 and 1914, coins were issued denominated in "peso p/m", equal to paper pesos. In 1910, the Junta de Conversion began issuing paper money and, in 1915, a new paper currency was introduced, the peso oro. This was equal to the coinage peso and replaced the old peso notes at a rate of 100 old paper pesos = 1 peso oro. In 1931, when the U.K. left the gold standard, Colombia shifted its peg to the U.S. dollar, at a rate of 1.05 pesos = 1 dollar, a slight devaluation from its previous peg. Although it never appeared on coins, Colombia's paper money continued to be issued denominated in peso oro until 1993, when the word oro was dropped. Since 2001, the Colombian senate has debated whether to redenominate the currency by introducing a new peso worth 1000 old pesos.

The historical exchange rates of the Columbian peso:-

The following table shows the exchange rate of 1$ to COP

COP year 1,140.96
2000
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The source of instability is reflected in the growth of guerrilla armies , paramilitaries and privatized security forces. The confluence of this factor has exacerbated even deeper problem in Colombian society. including loss of central government authority, economic deterioration and maybe creating the condition of a failed state which is characterized by a sever political crisis in which the institution of central government are so weakened that the can no longer maintain authority or political order beyond major cities and sometimes not even

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