Dollar: closing price today, March 16 in Colombia

Last day the US dollar traded at the close at 3,831.01 Colombian pesos, which represented an increase of 0.35% compared to 3,817.59 Colombian pesos the previous day.

Compared to last week's profitability, the US dollar registered a rise of 0.37%, so that for a year it has still maintained an increase of 4%. Comparing this figure with that of previous dates, he reversed the result of the previous day, where it ended with a fall of 0.04%, recently showing a lack of stability in the results. In reference to the volatility of the last week, it was 11.95%, which is subtly higher than the annual volatility figure (11.92%), so it shows greater changes than the general trend in value.

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 placed closer to its low than its 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 estimated 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 an increase of 3.5% 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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