Nominal exchange rate

Along with inflation and interest rate rafter rate pricing is one of the most important economists who study the nominal exchange rate measures the price of a foreign currency in domestic currency terms, the percentage change in price the currency is known as depreciation or devaluation, when it is negative (the currency of a country reduces its value compared to other foreign currencies), and revaluation or appreciation, when positive (a currency of a country increases its value compared with other foreign currencies).The T.R.M. (Reprentative of market rate) is calculated in colombia for financial supervision and is calculated based on the purchase and sale of foreign currencies by financial intermediaries, this rate is calculated daily with datails of trades of currencies that are made the day. (Sources: http://www.webpondo.org/ and http://www.banrep.gov.co/)