Exchange rate
In 1998, the Market Exchange Rate
stood at Col $1,542.11 per US dollar. This represents an annual devaluation of 19.21%.
This annual increase in the price of the dollar is 9.5 percentage points lower than that
observed in 1997. The Real Exchange Rate Index reached 104.8, indicating a real
depreciation of 5.1%, The real devaluation recorded in 1998 is primarily explained by
domestic factors, since the average devaluation was 18.9% while the rise in producer
prices was 13.5%.
REAL EXCHANGE RATE
INDEX
|
REAL
EXCHANGE RATE INDEX
No Traditional Trade
Goemetrical Average 1994 = 100
PERIOD
|
AVERAGE |
PERIOD |
AVERAGE |
1987 |
100,42 |
1993 |
107,46 |
1988 |
100,85 |
1994 |
100,00 |
1989 |
101,12 |
1995 |
102,08 |
1990 |
114,76 |
1996 |
98,90 |
1991 |
113,00 |
1997 |
93,31 |
1992 |
106,74 |
1998 |
98,90 |
|
NOMINAL
EXCHANGE RATE DEVALUATION %
END OF
PERIOD |
ANNUAL
VARIATION |
END OF
PERIOD |
ANNUAL
VARIATION |
1987 |
20,41 |
1993 |
8,99 |
1988 |
27,36 |
1994 |
3,35 |
1989 |
29,20 |
1995 |
18,81 |
1990 |
31,07 |
1996 |
1,79 |
1991 |
12,29 |
1997 |
28,67 |
1992 |
15,56 |
1998 |
19,21 |
|
Source: Banco de la
República - Economic Studies. |
