Dollar: closing price today June 25 in Colombia

The exchange rate in Colombia reacts to political events. (Information)

He U.S. $ was agreed upon at closing Average 4100.72 Colombian pesosimplying a decline of 1.46% from the previous session, which ended at P4,161.56.

Compared to last week U.S. $ records a decrease 1.1%%; On the contrary, there has still been growth in the last year 4.09%.

Compared to previous dates, it reversed the price of the previous day, where it received an increase of 0.36%, showing a lack of stability in the result in recent days. As for last week’s volatility, it was lower than the volatility accumulated over the last year, so in this latest phase it tends to have less variation than usual.

The Bank of the Republic of Colombia expects the exchange rate to be at average 4081 pesos per dollar. An encouraging forecast, far from the peaks that the Colombian currency reached between the end of 2022 and the beginning of 2023.

Referring to inflation, the forecasts are also positive. The trend is expected to be downward and fall to 5.61%, still far from the three percentage point ideal but within the 10% it has reached in recent months.

However, the above contradicts the predictions the economic growthas the central bank expects it to be 1.2% in 2024.

The Colombian peso has strengthened over the past year. (Reuters)

Like other currencies in the region, such as the Brazilian real or the Mexican peso, the Colombian currency has also been one of the most valuable in emerging markets.

Only in the first half of the year Colombian Peso achieved large gains in value, thanks in part to the weakening dollar around the world as the dollar was impacted by world events such as Russian invasion of Ukraine and local economic decisions, such as measures taken by the Federal Reserve to combat inflation.

Locally Colombian economy benefited from slow debate in Congress on reforms proposed by President Gustavo Petro.

Having become one of the most valuable currencies in Latin America, the peso reached $4,100 apiece. dollar, which meant 16 percent progress. Some experts believe that a rebound is possible and it will reach P4,500.

Euro, the second base currency in the international market, has also not been spared from the rise in the Colombian peso recorded in recent months, mainly due to the peso-dollar and dollar-euro relations. The euro is approaching parity with the dollar and has even become worth less than one dollar, which has not been observed for 20 years.

The Colombian Peso is the legal currency in Colombia, usually abbreviated to KS and its circulation is controlled by the Bank of the Republic of Colombia.

Currently in circulation there are coins in denominations of 50, 100, 200, 500 and 1000 pesos; the latter was first circulated between 1996 and 2002, but fell out of popularity because it was very easy to counterfeit.

The 500 and 1000 pesos coins are bimetallic, which increases their security and prevents their illegal duplication; meanwhile, everything denominations Their designs hint at the biodiversity that exists in the country, including the spectacled bear, flag macaw, glass frog, loggerhead turtle and more.

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