国际货币基金组织：2025年哥伦比亚：外汇市场发展和监管框架审查技术援助报告（英文版）

The Colombian foreign exchange market has exhibited remarkable development over the last fewyears. While the exchange rate has responded flexibly to shocks, several components of the FX markethave room for deeper development. Several mainly administrative challenges hinder market efficiencyand inhibits the intemationalization of the Colombian peso (COP).The conyertibility of the COp is incomplete, and its level of intemationalization is moderate. Acurrency is considered fuly converible when i