The euro was paid at the close to 4,232.20 Colombian pesos, a rise of 1.77% compared to 4,158.40 Colombian pesos the previous day.
Over the past seven days, the euro has registered an increase of 3.55%; despite this, in the last year it still maintains a decline of 6.2%. Regarding past dates, he turned the previous day's data where he experienced a decrease of 0.35%, showing in the last few dates an absence of stability in the result. As for the volatility of the last dates, it showed a clearly higher return than the volatility shown in the last year's data, so the value experienced greater variations than the general trend.
In the annual photo, the euro was paid at a maximum of 4,571.70 Colombian pesos, while its lowest level was 4,076.20 Colombian pesos. The euro is closer to its minimum value than to the maximum.
Hope for the Colombian Peso
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 COVID-19 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 declared 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 with with respect to the last measurement.
Other analysts, such as those at BBVA, have estimated that even the country's economy could reach as high as 10%; growth would not stop ahead of 2023, as it is also expected that there will be a 2.3% increase.
Among the main challenges facing 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 COVID-19 pandemic.
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Agencies