On the last day, the euro closed at 4,417.37 Colombian pesos on average, which meant a change of 5.25% when compared to the 4,196.90 Colombian pesos on average in the previous session.
If we consider the data of the last week, the euro marks an increase of 0.28%, so in year-on-year terms it still maintains a rise of 1.45%. Compared to previous days, the direction of the previous data changed, in which it marked a decrease of 0.8%, being unable to establish a clear trend lately. Regarding the volatility of the last few days, it is notoriously higher than the data obtained for the last year (17.18%), therefore the value experiences greater variations than the general trend.
Hope for the Colombian peso
The Colombian peso 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 popularity 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 the denominations have designs that allude to the biodiversity that exists in the country, among them the spectacled bear, the flag macaw, the glass frog, the loggerhead turtle, among others.
In the same way and as it has happened worldwide, the SARS-CoV-2 pandemic has also given 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 in 2022, 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 calculated that even the country’s economy could reach up to 10 percent; growth would not stop in the face of 2023, since it is also expected that there will be a rise of 2.3 percent.
Among the main challenges facing the Colombian peso is inflation of 5.6 percent, the highest in five years, as well as social inequality, since poverty also rose five points as a result of the pandemic. of COVID-19.
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