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The Bank of the Republic (Spanish: Banco de la República) is the central bank of Colombia. It was initially established under the regeneration era in 1880. Its main modern functions, under the new Colombian constitution were detailed by Congress according to Ley 31 de 1992. One of them is the issuance of the Colombian currency, the peso.
US dollar exchange rate against Colombian peso, starting from 1991. Colombia used Spanish colonial real until 1820 after independence from Spain was achieved. It was replaced by the Colombian real. In 1837, the Colombian real was replaced by the current peso at a rate of 1 peso = 8 reales and was initially subdivided into 8 reales.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
Colombia's benchmark interest rate is set to increase due to rising inflation which has pushed consumer prices above the central bank's target rate, a member of the bank's board said on Wednesday ...
Colombia's central bank board is likely to begin raising its benchmark interest rate at its meeting on Thursday, echoing regional counterparts and ahead of an expected withdrawal of monetary ...
In 1886, the President of Colombia, Rafael Núñez, established a forced exchange rate for the note issued by the National Bank (Banco Nacional), founded in 1880, putting an end to the long-term issue of paper money by private banks. [2] Decree no. 260 of 1885 suspended the convertibility of notes into metallic currency.
All five board members of the Bank of Mexico voted to raise the country's benchmark interest rate 75 basis points to a record 9.25%, while Colombia's central bank raised its interest rate by 100 ...
The peso was pegged to the dollar at 1.05/US$1. Several adjustments were made following the rise of the dollar, and in 1935 the exchange rate settled at 1.75 pesos per US$1. Colombia abandoned a fixed exchange rate in 1937, but the free rate kept close to 1.75/US$1. [citation needed] The Colombian peso's parity was registered with the ...