Exchange Rate in Colombia
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
|Exchange Rate (vs USD, aop)||1,869||2,003||2,749||3,052||2,952|
5 years of economic forecasts for more than 30 economic indicators.
Colombia Exchange Rate (aop) Chart
Source: Thomson Reuters.
|Bond Yield||6.04||0.0 %||Jun 13|
|Exchange Rate||3,269||-0.17 %||Jun 13|
|Stock Market||12,287||-0.66 %||Jun 13|
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June 5, 2019
Consumer prices rose 0.31% over the previous month in May, following a 0.50% month-on-month increase in April.
June 4, 2019
Business conditions in Colombia’s manufacturing sector improved again in May but at a softer rate compared to April.
June 4, 2019
Exports rose 2.2% over the same month of the previous year in April, contrasting a 0.8% year-on-year drop in March.
May 23, 2019
The economy grew 2.8% in annual terms in the first quarter of the year, up marginally from the fourth quarter’s revised 2.7% growth (previously reported: +2.8% year-on-year), according to the latest national accounts data released by the Statistical Institute (DANE) on 22 May.
May 17, 2019
Consumers turned pessimistic at the start of the second quarter, with the Fedesarrollo consumer confidence index plunging into negative territory in April, as it fell from 1.2 points in March to minus 9.6 points.