On the last day the American dollar quoted at closing at 4,225.13 Colombian pesos on averageso that it implied a change of 2.54% compared to the data of the previous day, when it ended with 4,335.25 Colombian pesos on average.
Taking into account the last week, the American dollar record a drop in 2.55%; but in year-on-year terms it still maintains an increase in 11.84%. With respect to past days, it turned the tables with respect to the previous day, when an increase of 0.76% was noted, showing that it is not capable of consolidating a defined trend in recent times. The volatility of the last seven days is clearly higher than the data obtained for the last year (12.75%), showing itself as an asset with greater changes than expected.
The Colombian peso It is the legal currency in Colombia, it is usually abbreviated as COL and its circulation is controlled by the Bank of the Republic of Colombia.
Coins of 50, 100, 200, 500 and 1,000 pesos are currently in force, the latter having its first circulation between 1996 and 2002, however, it lost acceptance because it was very easy to falsify.
The 500 and 1,000 pesos coins are bimetallic, to improve their security and prevent them from being illegally replicated; meanwhile, all denominations have designs that allude to biodiversity in the country, including the spectacled bear, the flag macaw, the glass frog, the loggerhead turtle, among others.
In the same way and as has happened worldwide, the coronavirus pandemic it has also given some “blows” to the currency, although not severe enough to destabilize it.
Recently, the Organization for Economic Co-operation and Development (OECD) has said that The Colombian economy could be the fastest growing in Latin America in 2022this after maintaining a growth forecast for its Gross Domestic Product (GDP) of at least 5.5 percent, which means an increase of 3.5% compared to the last measurement.
Other analysts, such as those of BBVA, have estimated that even the country’s economy could reach up to 10 percent; growth I wouldn’t stop for 2023as it is also expected that there will be a rise of 2.3 percent.
Among the adversities facing the Colombian peso is the inflation of 5.6 percent, the highest in five yearsas well as social inequality, since poverty also increased by five points as a result of the coronavirus pandemic.
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