|
In December 2001, the Market Exchange
Rate (MER) stood at $2,306.90 pesos per dollar, registering a nominal annual devaluation
of 5.5%, 10.3 percentage points lower than that presented in 2000. The Real Exchange Rate
Index (RERI) stood at 115.65 in December 2001, presenting a real annual revaluation of
3.4%. The fall of the RERI in the 2001 is mainly explained by the lower wholesaler
inflation data presented in the United States, England, Italy and Argentina. In fact, in
spite of the nominal devaluation of the Colombian peso, which was 2.8 percentage points
higher than that registered by their twenty (20) commercial partners, this result
didn’t reach to compensate the 6.4 percentage points of the product’s mayor
inflation that Colombia showed over the rest of countrie.
REAL EXCHANGE RATE INDEX
|
REAL EXCHANGE RATE INDEX
No Traditional Trade
Goemetrical Average 1994 = 100
| PERIOD |
AVERAGE |
PERIOD |
AVERAGE |
| 1990 |
114,87 |
1996 |
98,83 |
| 1991 |
113,04 |
1997 |
93,11 |
| 1992 |
106,77 |
1998 |
98,16 |
| 1993 |
107,46 |
1999 |
108,27 |
| 1994 |
100,00 |
2000
p |
115,64 |
| 1995 |
102,03 |
2001
p |
118,51 |
|
NOMINAL
EXCHANGE RATE DEVALUATION %
| AVERAGE
TO DECEMBER |
RATE |
ANNUAL
VARIATION |
AVERAGE TO DECEMBER |
RATE |
ANNUAL VARIATION |
| 1990 |
563,38 |
31,23 |
1996 |
1.000,79 |
1,28 |
| 1991 |
630,38 |
11,89 |
1997 |
1.296,70 |
29,57 |
| 1992 |
733,42 |
16,35 |
1998 |
1.524,56 |
17,57 |
| 1993 |
803,56 |
9,56 |
1999 |
1.888,46 |
23,87 |
| 1994 |
829,37 |
3,21 |
2000 |
2.186,21 |
15,77 |
| 1995 |
988,15 |
19,14 |
2001 |
2.306,90 |
5,52 |
|
p : Provisional.
Source: Banco de la República, Economic Studies. |
