Dollar opening value in Colombia on March 23 USD to COP

The US dollar is paid at the opening at 3,733.26 Colombian pesos on average, which represented a decrease of 1.85% compared to the previous day's price, which was 3,803.75 Colombian pesos on average.

If we consider the data for the last week, the US dollar is down 2.22%, so in year-on-year terms it still accumulates a decrease of 0.12%. With respect to earlier dates, it chains two successive sessions falling. The volatility for the last week is lower than the numbers achieved for the last year (11.82%), so it is performing more stable than the general trend in recent days.

In the annual photo, the US dollar has even 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.

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 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 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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