Since 1991, Colombia has had a market-determined Peso–US Dollar Nominal Exchange Rate (NER), after more than 20 years of controlled and multiple exchange rates. The behaviour (revaluation / devaluation) of the NER is constantly reported in the news, editorials, and op-eds of the major...

Colombia introduced a market-determined Nominal Exchange Rate (NER) with the US Dollar in 1991, after more than 20 years of controlled and multiple exchange rates. The first nine years the NER was set by an exchange rate band system, since 1999 the exchange rate is determined in a dirty float"...