Colombia: closing price of the euro today, March 22, EUR to COP

On the last day, the euro traded at 4,147.65 Colombian pesos on average, which meant a decrease of 0.44% compared to the previous day's price, when it closed with 4,166.10 Colombian pesos on average.

Compared to last week, the euro registered an increase of 0.61%, although, on the contrary, in year-on-year terms it still continues to fall by 6.96%. With respect to previous days, he chained two dates in a row of descent. Volatility compared to the last week showed a slightly higher performance than the volatility shown in the last year's figures, therefore it shows greater changes than the general trend in value.

In the annual photo, the euro has reached a maximum of 4,571.70 Colombian pesos on average, while its lowest level has been 4,076.20 Colombian pesos on average. The euro is closer to its minimum than its maximum.

Hope for 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 fake.

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 declared 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 a 3.5% increase with with respect to the last measurement.

Other analysts, such as those at BBVA, have calculated that even the country's economy could reach as high as 10%; growth would not stop by 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 coronavirus pandemic.

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