Monday 27 September 2021

Colombia peso boosted by weak dollar and rising oil prices

Paying the bills

Latest

Today’s Vehicle Restriction September 27: Plates ending in “1 & 2” CANNOT circulate

QCOSTARICA - For today, Monday, September 27, vehicles with...

Government will buy one million more covid vaccines for children and third doses in 2022

QCOSTARICA - The President of Costa Rica, Carlos Alvarado,...

Don’t forget the vehicular restrictions

QCOSTARICA - If you are out and about this...

UNA epidemiologist: “We are not better, we are less worse”

QCOSTARICA - The fact that the number of infections...

Today’s Vehicle Restriction September 26: “ODD” ending plates CANNOT circulate

QCOSTARICA - For today, Sunday, September 26, vehicles with...

Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...
Paying the bills

Share

The US dollar has lost more than 5% of its value against Colombia’s peso over the past month, partly because of an increase in price of Colombia’s primary export product, oil.

The peso has not just increased in value against the dollar. The Colombian currency also made a 2.2% hike against the Euro over the past month.

Since December 14, the dollar dropped from COP3,008 to COP2,854.

The peso has not just increased in value against the dollar. The Colombian currency also made a 2.2% hike against the Euro over the past month.

- Advertisement -

Colombian analysts told newspaper Portafolio that the Colombian currency hike could spur the dollar to drop to COP2,600 this year if oil prices are maintained and the dollar continues to lose value against the Euro.

Over the past year, the dollar has lost almost 13% of its value against the Euro.

The Colombian peso experienced a major price drop between August 2014 and February 2016 when the dollar when from COP1,880 to COP3,295 in par with plummeting oil prices.

This has now partially been corrected as a consequence of the 10% oil price hike of the past month.

An peso price hike reaching levels similar to those before 2014 are unlikely as the US, the world’s largest energy consumer, has dramatically increased domestic oil production under former President Barack Obama.

Source: Colombia Reports

- Advertisement -

Article originally appeared on Today Colombia and is republished here with permission.

- Advertisement -
Paying the bills
Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Costa Rica has the lowest inflation in the region

QCOSTARICA - Costa Rica registered the lowest inflation in the Central...

Covid-19 deaths skyrocket throughout September in Nicaragua

TODAY NICARAGUA – In the past week, a total of 329...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Article originally appeared on Today Colombia and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.