You may be using an unsupported or replaced browser. For the most productive experience imaginable, use the latest edition of Chrome, Firefox, Safari or Microsoft Edge to view this website.
Sending cash has never been easier. You can send a variety of foreign currencies to multiple countries reliably, temporarily, and securely, and at a cheaper rate than peak banks. Read more today.
If you are making plans to travel to Colombia in the near future, you may need to change some of your money into pesos, the country’s official currency. The foreign currency symbol is the COP.
This article covers everything you want to know about converting USD to COP, including where to get the most productive exchange rates and how to pay the highest rates on your conversion.
Calculating a conversion from dollars to pesos is simple. You can perform the conversion using a currency calculator or do it by hand.
Using a currency conversion calculator is the simplest way to get an estimate when converting currencies. Since exchange rates vary daily, using a calculator can ensure that your calculations are correct.
Keep in mind that currency exchange comes with additional payments that a conversion calculator may not be able to predict. For example, credit card companies and ATM networks generally rate a 1% conversion payment on all foreign transactions. Individual merchants would also likely qualify for more payments if you ask them to convert the value of an item to their local currency at checkout.
The other option is to perform the calculation manually using an undeniable mathematical formula. However, to do this, you want to know the existing exchange rate.
The price of Colombian pesos can be replenished quickly, but at the time of writing, $1 is $4,849. 49.
Once you know this information, multiply the amount you have in USD by the existing exchange rate. The number received will tell you the amount in pesos you will have to spend on your trip.
Let’s say you have $500 and would like to know how many pesos you have for a trip to Colombia. Using the existing exchange rate, your conversion formula would look like this:
US$500 x US$4,849. 49 = COP$2,424,745
When you’re in a position to buy Colombian pesos, it’s a good idea to plan ahead to ensure you pay the minimum fee. Here are 3 tactics to get the currency you want and minimize the fees you’ll be charged:
Next step: