Exchange Rate in Colombia
Colombia - Exchange Rate
Colombian peso tumbles on concerns over fiscal reform and increased trade war tensions
The Colombian peso dived sharply at the beginning of May, as recent adjustments to the fiscal rule raised concerns over the pace of fiscal reform. On 11 May, the currency traded at 3,277 per USD, 5.3% weaker than its value the same day last month. The peso was also down 12.6% over the same month of the previous year and fell 0.9% year-to-date.
Large-scale migration of Venezuelans into Colombia has put increased pressure on the budget, prompting the independent Fiscal Rule Committee to relax its fiscal deficit targets for this year to 2.7% of GDP from 2.4%, and for 2020 to 2.3% from 2.2%. While the looser fiscal constraints should help cope with the extra migration-related costs, realizing the fiscal consolidation goals will be more challenging in the medium-term without adopting measures to boost tax revenues. Moreover, the three leading credit agencies have expressed concerns over frequent changes to the fiscal rule undermining the credibility of fiscal consolidation efforts. Escalating U.S.–China trade tensions also led to losses for the peso among other emerging-market currencies as investors shifted away from riskier assets.
Looking ahead, the peso is expected to gain ground as growth picks up. Panelists participating in the LatinFocus Consensus Forecast project that the Colombian peso will end 2019 at 3,141 per USD and 2020 at 3,125 per USD.
Colombia - Exchange Rate Data
|Exchange Rate (vs USD)||1,930||2,389||3,175||3,002||2,985|
5 years of economic forecasts for more than 30 economic indicators.
Colombia Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||6.49||0.0 %||May 13|
|Exchange Rate||3,305||-0.17 %||May 13|
|Stock Market||12,363||-0.66 %||May 13|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 15, 2019
Colombia’s industrial sector gained traction in March, growing 3.2% over the same month of last year, according to data released by the country’s National Administrative Department of Statistics (DANE) on 15 April.
May 11, 2019
The Colombian peso dived sharply at the beginning of May, as recent adjustments to the fiscal rule raised concerns over the pace of fiscal reform.
May 7, 2019
Exports contracted 0.8% over the same month of the previous year in March, contrasting a 6.2% year-on-year rebound in February.
May 6, 2019
Consumer prices rose 0.50% over the previous month in April, following a 0.43% month-on-month increase in March.
May 2, 2019
Business conditions in Colombia’s manufacturing sector showed improvement in April, reflected by the seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) swinging back into expansionary territory.