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Economy, Currency and Banking

pesos equal, Medellin, Colombian peso, Bogota, Cali

The basic unit of currency is the Colombian peso (2,088 pesos equal U.S.$1; 2000 average). The Bank of the Republic is the sole bank of issue and operates the mint, salt, and emerald monopolies for the government. It also shares responsibility for monetary policy with the government monetary board. More than 25 commercial banking institutions, as well as the government development banks and several other official and semiofficial financial institutions, operate in Colombia. Stock exchanges serve Bogota, Medellin, and Cali.



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pesos equal, Medellin, Colombian peso, Bogota, Cali, mint, monetary policy, Stock exchanges, salt, Republic, average, responsibility

 
 

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