Colombia, located in the northwest of South America, is bordered by the Caribbean Sea, Venezuela, Brazil, Peru, Ecuador, and the Pacific Ocean. Its official currency is the Colombian peso (COP). Colonized by the Spanish in the 16th century, Colombia gained independence in 1810 and was initially part of Gran Colombia before becoming a separate republic in 1831. The country has experienced periods of internal violence and armed conflict, notably with the FARC, but has made significant strides in peace and development in recent decades.