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From 1888, printing press inflation caused Colombia's paper money (pegged to sterling at a rate of four shillings to one peso, or 5 pesos = 1 pound) to depreciate and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente = 1 coinage peso. Between 1907 and 1914, coins were issued denominated in "peso p/m", equal to paper pesos. In 1910, the Conversion Board began issuing banknotes in the form of peso oro. In 1931, the United Kingdom

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