The euro was trading at 4,218.09 Colombian pesos at the time of its opening, so it showed an increase of 1.44% compared to the previous day's figure with a score of 4,158.40 Colombian pesos.
The euro rose 3.32% last week. On the contrary, it still maintains a 5.38% decrease compared to the previous year. Using this figure, we can reduce the negative streak in the last two days.The volatility of the last week is higher than the volatility accumulated last year, so it is showing more precarious behavior.
Last year, the euro changed to 4,571.70 Colombian pesos and the lowest level was 4,076.20 Colombian pesos. The euro is closer to the minimum value than the maximum value.
Hope for the Colombian Peso
TheColombian peso is a legal tender in Colombia, usually abbreviated as COL, and its distribution is controlled by Banco de la República de Colombia.
Currently, coins of 50, 100, 200, 500 and 1,000 pesos are in circulation, the latter being circulated for the first time between 1996 and 2002, but they have lost their popularity because they are very easy to forge.
500 pesos and 1,000 pesos of coins are bimetal to improve security and prevent them from being copied illegally. All denominations have designs that allude to the biodiversity that exists in the country: spectacled bears, flag parakeets, glass frogs, hummingbirds, among others.
Similarly, as has happened worldwide, the SARS-CoV-2 pandemic has inflicted a slight “blow” on the currency, although it is not serious enough to destabilize the currency.
Recently, the Organization for Economic Cooperation and Development (OECD) predicted that the Colombian economy could grow the fastest in Latin America by 2022 after maintaining a growth forecast of gross domestic product (GDP) of more than 5.5%. This means an increase of 3.5% in relation to the last measurement.
Other analysts, such as BBVA, have calculated that even the national economy can reach up to 10%. In addition, growth will not stop until 2023, since it is expected to increase by 2.3%.
Among the main challenges facing the Colombian peso are inflation and social inequality at 5.6%, the highest in five years, as poverty also increased by 5 points after the SARS-CoV-2 pandemic.
Agencies
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