The central bank issues the country’s currency in the form of banknotes and coins. This is an exclusive function that may not be delegated. Consequently, the production, issue, supply and destruction of all Colombian currency is solely the responsibility of Banco de la República.
Banknotes are produced at the Central Facility for Engraving and Printing in Bogotá, while coins are made at the National Mint, which is located in Ibagué. The issue of national currency is the formal and accountable process whereby banknotes and coins become legal tender oEngnce they have been produced and are ready for use. This occurs when the Issue Certificate is signed. The currency is then put into circulation once an economic exchange takes place. It is distributed through three main channels: Banco de la República’s teller windows serving the public, entities in the financial sector and delegated vaults.
The family of Colombian banknotes lends continuity to the concept of biodiversity reflected in the series of coins that began to circulate in 2012, highlighting the country’s wealth of natural resources. As part of the notion of family, these banknotes have security features that are common to all denominations in terms of where they are located and how they can be verified, thereby making it easy for the public to recognize and confirm the authenticity of banknotes. The new banknotes are circulating simultaneously with those designed previously, and both serve as legal tender for all transactions.