Money market rates
The money market rate of Colombia is mostly affected by de US dollar, and in a partial way the euro. From one year ago, in Colombia, the market rate of the dollar has been growing from 1,800 Colombian pesos a dollar, to an actual average of 3,330 Colombian pesos a dollar. There are some indicators that show the dollar could still grow.
Below is showed the behavior of the dollar from five years ago in Colombia. And then the behavior the last year and the last one is three months ago.
es.tradingeconomics.com&utm_medium=es.tradingeconomics.com/colombia/currency
This graphic shows what is stated before, that the dollar was under the 2,000 Colombian pesos in the middle of 2014 and before, approximately 1,800 COP. And now, this dollar price is in 3,331 COP a dollar.
es.tradingeconomics.com&utm_medium=es.tradingeconomics.com/colombia/currency
es.tradingeconomics.com&utm_medium=es.tradingeconomics.com/colombia/currency
And these two graphics show the behavior of dollar one year ago and three months ago. What was said, the dollar is increasing.
The market is also affected by the euro, no as the dollar, but it is affected by it in a lower way.
es.tradingeconomics.com&utm_medium=es.tradingeconomics.com/colombia/currency
This graphic shows the behavior of the euro in the last year in Colombia, and can be seen that the Euro is also growing from August until now, with some falls, but still increasing.
So, can be said that the Dollar and the Euro are not only growing in contrast to the Colombian peso, it also can be said that the Colombian peso is also falling, because of many factors of the market.