Currency of Colombia or Décimos = 100 Centavos The Granadine Confederation ("Confederación Granadina") was proclaimed 1 April 1858, adopting a new constitution on 22 May. Its brief life under President Mariano Ospina Rodríguez ended in civil war (1860–1862). The Confederation issued Colombia's first postage stamps in August 1859 in denominations of 2½, 5, 10, and 20 centavos and 1 peso. Silver dated 1859–1862 (coins minted at Bogotá are denominated in décimos, those minted at Popayán in reales) .666 fine .900 fine Gold .900 fine, dated 1859–1862: Peso = 10 Décimos = 100 Centavos General Tomás Cipriano de Mosquera captured Bogotá on 18 June
Currency 5 khoums, while the Malagasy ariary is theoretically divided into 5 iraimbilanja. In these countries, words like "dollar" or "pound" "were simply names for given weights of gold." Due to inflation khoums and iraimbilanja have in practice fallen into disuse. (See non-decimal currencies for other historic currencies with non-decimal divisions.) Convertibility of a currency determines the ability of an individual, corporate or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. Based on the above restrictions or free and readily conversion features, currencies are classified as: In economics, a local currency