Colombia: dollar opening rate today March 21 USD to COP

At the beginning of the day, the US dollar was trading at the open at 3,816.01 Colombian pesos on average, accounting for 0.03% compared to 3,814.76 Colombian pesos on average the previous day.

Compared to the last seven days, the US dollar marked a decrease of 0.39%; on the contrary, for a year it has still maintained a rise of 1.89%. If we compare the value with past days, it reverses the result of the previous day, where it ended up with a fall of 0.08%, demonstrating that it is unable to establish a stable trend recently. Volatility for the last week is 6.43%, which is visibly lower than the annual volatility figure (11.88%), presenting itself as a value with less variation than expected in recent dates.

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 minimum value than to the maximum.

The Colombian currency 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.

Currently the coins of 50, 100, 200, 500 and 1 000 pesos are in force, 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 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 an increase of 3.5% with with respect 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 as a result of the COVID-19 pandemic.

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