Colombia’s Peso Slides Past 3,100 per Dollar: What It Means for Expats
Money: Colombia Key Facts —The TRM fixing in force on Thursday 27 August is 3,118.24 pesos per dollar, up 1.19 percent from Wednesday’s 3,081.67. —Wednesday’s spot session closed at 3,128.50, a 1.24 percent daily weakening of the peso and the dollar’s first finish above 3,100 since August 18. —Context: even after the bounce, the dollar […] The post Colombia’s Peso Slides Past 3,100 per Dollar:…
The Colombian peso has weakened to a rate of 3,118.24 pesos per dollar on Thursday, according to the official exchange rate TRM. This represents a 2 percent decrease in the peso's value over the past two days. The currency's decline began on August 18, when the peso traded as low as 3,100 pesos per dollar, marking the weakest level since 2018.
Three factors are contributing to the peso's decline: falling oil prices, a higher US dollar, and local uncertainty surrounding tax reform. With a strong peso year behind it, the correction is now a 2 percent pullback, driven by cheaper oil and a firmer US dollar.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
