The Colombian Peso (COP) is the official currency of Colombia. It is abbreviated as COP and is symbolized by the "$" sign, although sometimes "COL$" is used to distinguish it from other currencies. The peso is subdivided into 100 smaller units called centavos. The Colombian Peso has undergone several changes since its introduction in the 19th century, including redenominations to combat inflation. The currency is issued and regulated by the Bank of the Republic of Colombia, which manages monetary policy and aims to maintain economic stability in the country.