Colombia: closing price of the dollar today on March 22 of USD to COP

The US dollar was paid at the close to 3,756.52 Colombian pesos on average, a decrease of 1.61% compared to 3,818.09 Colombian pesos on average the previous day.

In the last week, the US dollar marked a decline of 1.98%; however, for a year now it has still accumulated a rise of 0.64%. Analyzing this data with that of previous days, he proved unable to consolidate a trend recently. As for the volatility of the last few days, it presented a balance that was lower than the volatility shown in the last year's data, which shows that its price is showing less alterations than the general trend in recent days indicates.

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 placed 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.

Currently there are coins of 50, 100, 200, 500 and 1 000 pesos, the latter had its first circulation between 1996 and 2002, however, it lost popularity 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 coronavirus 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 predicted that the Colombian economy could be the fastest growing in Latin America by 2022, after maintaining 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 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 following the SARS-CoV-2 pandemic.

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