Exchange rate
At the end of March 1999, the Market
Exchange Rate stood at Col $1,533.51 per US dollar. The annual devaluation reached 12.9%,
15.2 percentage points lower than that presented in March 1998. On the other hand, the
Real Exchange Rate Index stood at 97.3, indicating a real appreciation of 6.3% in the
first quarter of 1999. This result is explained by the devaluations of Colombia's main
commercial partners and by the relationship between domestic inflation (PPI) and domestic
nominal devaluation.
REAL EXCHANGE RATE
INDEX
|
REAL
EXCHANGE RATE INDEX
No Traditional Trade
Goemetrical Average 1994 = 100
PERIOD |
AVERAGE |
PERIOD |
AVERAGE |
1987 |
100.42 |
1994 |
100.00 |
1988 |
100.85 |
1995 |
102.08 |
1989 |
101.12 |
1996 |
98.90 |
1990 |
114.76 |
1997 |
93.31 |
1991 |
113.00 |
1998 |
98.42 |
1992 |
106.74 |
1999* |
97.27 |
1993 |
107.46 |
|
|
* Average January -
March. |
NOMINAL
EXCHANGE RATE DEVALUATION %
END OF
PERIOD |
ANNUAL
VARIATION |
END OF
PERIOD |
ANNUAL
VARIATION |
1987 |
20.41 |
1994 |
3.35 |
1988 |
27.36 |
1995 |
18.81 |
1989 |
29.20 |
1996 |
1.79 |
1990 |
31.07 |
1997 |
28.67 |
1991 |
12.29 |
1998 |
19.21 |
1992 |
15.56 |
1999** |
12.92 |
1993 |
8.99 |
|
|
** Annual variation
in March. |
Source: Banco de la
República - Economic Studies. |
