National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Colombia
Colombian Peso
COLNAEXKP07STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,078,249,252,844.40
Year-over-Year Change
32.84%
Date Range
1/1/2005 - 7/1/2023
Summary
The Colombian Peso (COP) is the official currency of Colombia. It serves as an indicator of the country's economic performance and helps inform policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Colombian Peso (COP) represents the exchange rate between the Colombian currency and the U.S. dollar. It is a key economic indicator that provides insights into Colombia's trade balance, inflation, and overall macroeconomic conditions.
Methodology
The COP exchange rate is calculated and reported daily by Colombia's central bank.
Historical Context
Policymakers and investors monitor the Colombian Peso to assess the competitiveness of Colombian exports and the nation's economic stability.
Key Facts
- Colombia is the only country that uses the Colombian Peso as its official currency.
- The COP is one of the most actively traded emerging market currencies.
- The Colombian Peso has experienced significant volatility in recent years.
FAQs
Q: What does this economic trend measure?
A: The Colombian Peso (COP) measures the exchange rate between the Colombian currency and the U.S. dollar. It is a key indicator of Colombia's trade competitiveness and economic performance.
Q: Why is this trend relevant for users or analysts?
A: The COP exchange rate is closely watched by policymakers, investors, and analysts to assess Colombia's export competitiveness, inflationary pressures, and overall macroeconomic stability.
Q: How is this data collected or calculated?
A: The Colombian Peso exchange rate is calculated and reported daily by Colombia's central bank, Banco de la República.
Q: How is this trend used in economic policy?
A: Policymakers in Colombia and abroad monitor the COP exchange rate to inform decisions on trade policy, monetary policy, and interventions to stabilize the currency.
Q: Are there update delays or limitations?
A: The Colombian Peso exchange rate data is published in a timely manner, with minimal delays. However, the COP can be subject to significant short-term volatility due to factors such as commodity prices and global market conditions.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Actual Rentals for Housing for Colombia
COLCP040100IXOBM
Geographical Outreach: Number of Branches in 3 Largest Cities, Excluding Headquarters, for Commercial Banks for Colombia
COLFCBODCLNUM
Business Tendency Surveys: Finished Goods Stocks: Economic Activity: Manufacturing: Current for Colombia
COLBSFGLV02STSAM
Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Colombia
COLFCBODDNUM
International Merchandise Trade Statistics: Imports: Commodities for Colombia
COLXTIMVA01CXMLSAM
Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Colombia
COLFCLODUXDC
Citation
U.S. Federal Reserve, Colombian Peso (COLNAEXKP07STSAQ), retrieved from FRED.