Colombia - Official exchange rate (LCU per US$, period average)

The value for Official exchange rate (LCU per US$, period average) in Colombia was 3,743.59 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 3,743.59 in 2021 and a minimum value of 6.64 in 1960.

Definition: Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar).

Source: International Monetary Fund, International Financial Statistics.

See also:

Year Value
1960 6.64
1961 6.70
1962 6.90
1963 9.00
1964 9.00
1965 10.48
1966 13.50
1967 14.51
1968 16.29
1969 17.32
1970 18.44
1971 19.93
1972 21.87
1973 23.64
1974 26.06
1975 30.93
1976 34.69
1977 36.77
1978 39.09
1979 42.55
1980 47.28
1981 54.49
1982 64.08
1983 78.85
1984 100.82
1985 142.31
1986 194.26
1987 242.61
1988 299.17
1989 382.57
1990 502.26
1991 633.05
1992 759.28
1993 863.06
1994 844.84
1995 912.83
1996 1,036.69
1997 1,140.96
1998 1,426.04
1999 1,756.23
2000 2,087.90
2001 2,299.63
2002 2,504.24
2003 2,877.65
2004 2,628.61
2005 2,320.83
2006 2,361.14
2007 2,078.29
2008 1,967.71
2009 2,158.26
2010 1,898.57
2011 1,848.14
2012 1,796.90
2013 1,868.79
2014 2,001.78
2015 2,741.88
2016 3,054.12
2017 2,951.33
2018 2,955.70
2019 3,280.83
2020 3,694.85
2021 3,743.59

Development Relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world.

Limitations and Exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output.

Statistical Concept and Methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices