Colombia is an American country which was once under spanish rule. The official language of Colombia is Spanish and currency is Colombian Peso (COP). However it accepts remittances in multiple currencies; which are Colombian Peso (COP), US Dollar (USD), Euro (EUR) and Chinese Yuan (CNY).
In year 2015, foreign remittance inflow to Colombia was of $ 4.67 billion. Most of the leading money transfer operators provide their services to send money to Colombia. You should compare these for exchange rate, remittance fees and transfer time to get the best value for your money transfer to Colombia.
For all your remittance requirements to send money to Colombia, there is a unified search and compare platform called ExchangeRateIQ. You can leverage it to compare remittance providers for Colombia as well as check their reviews and offers to save time and money.
Current Exchange Rate(Mid Market) :- 2872.55 COP/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.