Dollar opening value in Colombia this March 14 of USD to COP

The US dollar is trading at the opening at 3,770.01 Colombian pesos, representing a decrease of 1.21% compared to 3,816.01 Colombian pesos the previous day.

Over the past seven days, the US dollar has fallen by 0.03%; however, in year-on-year terms, it still accumulates an increase of 1.36%. As for the changes of this day compared to past dates, it reverses the figure of the previous day in which it experienced a rise of 0.02%, showing that it is not able to consolidate a trend in recent days. In the last week, volatility is significantly higher than that accumulated in the last year, indicating that the value underwent greater changes than the general trend.

In the annual photo, the US dollar has changed by a high of 4,078.55 Colombian pesos, while its lowest level has been 3,731.72 Colombian pesos. The US dollar is closer to its minimum value than to the maximum.

The Colombian peso is the legal tender in Colombia, it is usually abbreviated as COL and its circulation is controlled by the Banco de la República de Colombia.

There are currently coins of 50, 100, 200, 500 and 1,000 pesos in circulation, the latter had its first circulation between 1996 and 2002, however, it lost acceptance because it was very easy to counterfeit.

The coins of 500 and 1,000 pesos are bimetallic, to improve their security and prevent them from being illegally replicated; while all denominations have designs that allude to the biodiversity that exists in the country, including the spectacled bear, the flag macaw, the glass frog, the loggerhead turtle, among others.

Similarly, and as has happened globally, the SARS-CoV-2 pandemic has also dealt some “blows” to the currency, although not severe enough to destabilize it.

Recently, the Organization for Economic Cooperation and Development (OECD) has said that the Colombian economy could be the fastest growing in Latin America in 2022, after it maintains a forecast of growth in its Gross Domestic Product (GDP) of at least 5.5 percent, which means a 3.5% increase compared to the last measurement.

Other analysts, such as those at BBVA, have pointed out that even the country's economy could reach 10%; growth would not stop ahead of 2023, as there is also an expected increase of 2.3%.

Among the adversities faced by the Colombian peso are inflation of 5.6 percent, the highest in five years, as well as social inequality, as poverty also rose by five points following the coronavirus pandemic.

We recommend you: