Exchange rate
At December 1999, the market exchange rate stood at an average of Col. $1,889.20 per US dollar. Annual devaluation reached 24.0%, 6.5 percentage points higher than the one observed in December 1998. The Real Exchange Rate Index stood at 110.20, indicating a real devaluation of 6.6% during the year. The fact that nominal devaluation (24.0%) was higher than the domestic inflation (PPI 12.7%), explains principally this real 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 |
100.21 |
1995 |
102.03 |
1989 |
101.28 |
1996 |
98.83 |
1990 |
114.87 |
1997 |
93.26 |
1991 |
113.04 |
1998 |
98.32 |
1992 |
106.77 |
1999* |
108.17 |
1993 |
107.46 |
|
|
|
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** |
21.51 |
1993 |
8.99 |
|
|
|
*: Real Exchange Rate Index annual average.
**: Devaluation caused between Dec. 31, i1998 and Dec. 31, 1999.
p: The Real Exchange Rate figures changed due some price index adjustments made by the IMF. The figures of 1997 to 1999 are provisional.
Source: Banco de la República, Economic Studies. |
