After the opening of the trading session, the US dollar is paid at the opening to 3,817.01 Colombian pesos on average, which implied a decrease of 0.41% compared to 3,832.57 Colombian pesos on average the previous day.
In the last week, the US dollar accumulated an increase of 0.03%, so in year-on-year terms it still accumulated a rise of 3.63%. Comparing this data with that of previous dates, it brings an end to two days of positive trend. The volatility of the last seven days is manifestly lower than that accumulated in the last year, so we can say that it is going through a period of greater stability in recent days.
In the last year, the US dollar has changed by a high of 4,078.55 Colombian pesos on average, while its lowest level has been 3,731.72 Colombian pesos on average. The US dollar is closer to its low than its maximum.
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 distort.
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 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.
Agencies
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