The peso is the currency of Colombia. Its ISO 4217 code is COP and it is also informally abbreviated as COL$. However, the official peso symbol is $. As of August 21, 2016, the exchange rate of the Colombian peso is 2,857 Colombian pesos to 1 U.S. dollar. In 2016, the Banco de la Republica is set to issue a new family of notes in denominations of 2,000-, 5,000-, 10,000-, 20,000-, 50,000 and 100,000 pesos, with the latter being the newest denomination. The new family of banknotes gives continuity of biodiversity present in the family of coins that began circulating in 2012, while highlighting a group of cultural elements and landscapes of Colombia's geography which have become symbols of its wealth, variety and creativity. Additionally, the notes pay tribute to major characters of the country's culture, science and politics, and reinforces recognition of women's role in Colombian society.
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