On 16 March, the Colombian peso (COP) traded at 1,760 per USD, which was 1.7% above the levels recorded in the same day the previous month. The figure follows on a 2.6% appreciation in February and marks, in fact, the strongest level since July 2011. The peso has gained an accumulated 9.4% this year versus the USD. The Colombian peso has been strengthening on the back of increased global risk appetite as well as higher foreign investment flows on speculation that the Central Bank will continue to raise interest rates, following on rate hikes in January and February. As a result, international reserves have been steadily climbing in recent months, reaching USD 32.8 billion by the end of February (January: USD 32.5 billion). In a bid to tame the peso's surge against the U.S. dollar, the Central Bank recently announced that it will extend its daily foreign exchange purchase programme until at least 4 August, up from the previously announced three-month period.
Colombia Exchange Rate
Colombian peso rises to seven-month high
March 17, 2012
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Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.