Description
The Colombian peso is the official currency circulating in Colombia since 1810, the year in which it replaced the real, the legal tender until that date. After a series of changes, in 1871 Colombia adopted the gold standard, pegging the peso to the French franc on an exchange rate of one peso to five francs, a rate which was maintained until 1886. The convertibility of Colombian pesos into gold came to an end in 1931. Despite all this, the banknotes issued by the Bank of the Republic continued bearing their denominations in golden pesos until 1993, when a lawsuit filed by ex-senator Pablo Victoria before the State Council caused the word “golden” and the phrase “will pay the bearer” to be removed from all banknotes. The design of the 5000 Pesos banknote have a Rafael Nuñez and Miguel Antonio Caro.
