Since 1931 Peso (Peso Oro)
The gold exchange standard was abandoned de facto on September 21, 1931, when restrictions were placed on foreign exchange and de jure on November 24, 1931. The peso was pegged to the dollar at 1·05/US$1. Several adjustments were made following the fall of the dollar, and in 1935 the exchange rate settled at 1·75 pesos per US$1. Colombia abandoned a fixed exchange rate in 1937, but the free rate was kept close to 1·75/US$1.
The Colombian peso's parity was registered with the International Monetary Fund on December 18, 1946 at 1·75 pesos to the US dollar, equal to 507·816 mg fine gold. This was adjusted to 1·95/US$1 on December 17, 1948, and to 2·50/US$1 on March 20, 1951. Colombia abandoned a fixed IMF parity and introduced a fluctuating free market rate May 13, 1955, initially at 4·17 per US dollar. There was steady deterioration of the exchange rate; an attempt to hold it at 13.50 per US dollar in 1966 failed. The annual average fell to 31.20 per dollar in 1975, 47.28 per in 1980, 142.31 per in 1985, 502.26 per in 1990, and 988 per in 1995.
Read more about this topic: Currency Of Colombia