Tag Archives: financial services

Show me the money!!! Or at least explain the exchange rate.

$20,000 peso bill, back and front. $1,000 peso bill. $5,000 peso bill. My niece recently gave me a lesson in how to tell if bills are counterfeit.

One of the challenges for a NorteAmericano in Colombia – at least for one like me who is not so great at mathematical estimates – is the exchange rate. Right now, it’s roughly 1,800 Colombian pesos to the dollar. So a bottle of Coke might be $3,000 (the symbol for the peso is the same as for the dollar – $) and your groceries might cost $248,000. We bought a queen size mattress the other day and the cost was over $1 million. It’s hard not to feel an initial sense of shock when you hear the number. Continue reading