Exchange Rate in Colombia

Colombia Exchange Rate (aop) | Economic News & Forecasts

Colombia - Exchange Rate (average of period)

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 (aop) Data

2013  2014  2015  2016  2017  
Exchange Rate (vs USD, aop)1,869  2,003  2,749  3,052  2,952  

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Colombia Exchange Rate (aop) Chart

Colombia Exchange Rate
Note: Colombian Peso (COP) per U.S. dollar.
Source: Thomson Reuters.

Colombia Facts

Bond Yield6.040.0 %Jun 13
Exchange Rate3,269-0.17 %Jun 13
Stock Market12,287-0.66 %Jun 13

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