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Most used currencies in Colombia? 2 What are the most used currencies? 3 What are the tactics used in the foreign exchange market? 4 Why is it important to establish fixed exchange rates in the foreign exchange market? What are the most commonly used currencies in Colombia? The official currency of Colombia is the peso , issued by the Bank of the Republic. The banknotes issued can be 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000, and the coins in circulation are 50, 100, 200, 500 and 1000. ! 4RABET 4RABET 4RABET What are the most used currencies? The US dollar.

Is by far the dominant currency in the international foreign exchange market, with the euro and the Japanese yen in second and third place respectively. What is the foreign exchange market? Also known as Foreign Exchange or FX, the foreign exchange market is essentially an unorganized market, called Over The Counter OTC in English. Today it is the largest financial bolivia telegram database in the world. READ How to know if an area is urban? What is the role of currency in the economy? In this respect, the most important role is played by the US currency. Until recently, it accounted for.

Most commercial and trade transactions. Until the arrival of the common European currency, the euro, these functions were shared out almost equally. What are the tactics used in the forex market? The tactics that are usually used are to peg the value of the countrys own currency to a foreign one or to attach it to a material good, such as gold. Establishing fixed exchange rates is not only for investors, but also for banks, since they will not be able to take measures to act on the foreign exchange market. Why is it important to establish fixed exchange rates.