LatAm Expat & Nomad Daily Guide for Sunday, August 23, 2026

Good morning. Your Latin American expat nomad guide opens on a Colombian peso reaching levels unseen since 3,075, an Argentine risk premium turning around, and a week of data culminating at Jackson Hole. The dollar faced a challenging week globally, particularly in Colombia. The index slipped to a three-month low near 98.50 on Thursday before closing just above it on Friday, as markets adjusted their pricing in anticipation of potential Federal Reserve rate cuts.

Analysts suggest three factors contributed to the peso's movement. Firstly, the new government's decree freezing public spending on August 7 and its aim to cut COP 60 trillion, approximately US$19 billion. Secondly, proposals to reopen hydrocarbon exploration to private investment. Thirdly, the central bank voting unanimously to hold the policy rate at 12.0 percent and announcing a plan to accumulate up to US$4 billion in reserves over two years.

Combined with a weak dollar, this scenario resulted in the peso reaching a seven-year high. For those paid in dollars but spending in pesos, this translates to a significant reduction in local purchasing power — roughly 2.6 percent in five days, and around 2.5 percent since our last guide. Conversely, if you hold pesos and plan to purchase dollars, this presents the most favorable window since 2018.

The Tango BA tournament runs through September, offering a unique opportunity to attend championship rounds. However, be mindful that Eje Cafetero is not yet back to normal. Pereira's Matecaña airport resumed commercial flights on Friday after a 11-day closure, but service is expected to be limited with around 14 daily flights compared to the usual 60.

Airport technicians are coordinating with airlines to restore full service, and an earlier reopening had to be postponed due to technical issues. If you plan to pass through Pereira in the coming two weeks, confirm your travel arrangements with your airline and allow for rebooking flexibility. Cali was reported to be operating normally on August 11 once power was fully restored.

In Peru, heavy rain caused flooding and disrupted connectivity in southern Lima, particularly in Villa El Salvador, Chorrillos, Villa María del Triunfo, and San Juan de Miraflores. President Fujimori declared a state of emergency for the affected zones on August 17. No strikes, airport actions, or border closures are currently impacting travel across the region.

In Rio de Janeiro, expect a wet week ahead, with a 90 percent chance of rain on Monday and Tuesday, and maximum temperatures in the high twenties through Thursday. Across the Southeast, INMET reported dry and stable conditions throughout the weekend, with an offshore cold front bringing weak, isolated rain to São Paulo, Rio, and Espírito Santo coasts, along with gale advisories along the shore — these advisories should be taken into account before planning any beach or boat activities.

Buenos Aires is experiencing cold and clear weather following a sharp weekend temperature drop. Regarding travel advisories, the United States levels across the region remain as follows: Colombia at Level 3, Reconsider Travel, a warning issued in March and not updated since the August earthquake; Ecuador, Panama, Chile, and Bolivia at Level 2; and Paraguay at Level 1, the lowest level in South America.

Several of these advisories were updated in the week leading up to August 21, with additional sub-national Do Not Travel zones designated in Ecuador and Bolivia. No central bank in the region made decisions this week. The next Banxico meeting is scheduled for September 24, with the current rate at 6.50 percent. Brazil's Copom will convene on September 15-16, and Colombia's Banrep will hold its next rate decision on September 30, with the policy rate standing at 12.0 percent.