The dollar in Colombia hovers around 3,100 pesos: who wins and who loses with a strong peso
The dollar in Colombia hovers around 3,100 pesos: who wins and who loses with a strong peso
The dollar in Colombia is still cheap. The official reference price, the TRM, was set at 3,099.48 pesos for Thursday, September 10. That is one of the lowest levels of the year.
How far it has fallen
At the start of the year the dollar was worth about 3,700 pesos. Today it is around 3,100. In August it reached 3,048.12 pesos, the lowest point of 2026. And so far this year it has been below 3,200 pesos on only 23 days.
To find a dollar as expensive as in past years you have to go back a while: the highest TRM ever was 5,061.21 pesos, on November 5, 2022. That is the "almost 5,000" many people remember.
Why it is cheap
There are three reasons. First, the dollar has weakened around the world. Second, interest rates in Colombia are still high, which makes it more attractive to hold money in pesos. Third, more dollars are coming into the country.
In the session of Wednesday, September 9, the dollar opened at 3,100.00 pesos, touched a low of 3,093.21 and closed at 3,103.00, with more than 1,233 million dollars traded. On Thursday it opened higher, at 3,120 pesos.
The analyst Juan David Ballén, from Aval Asset Management, explained that the small rebound at the end of August was a technical correction after the strong rise of the peso. In other words, it was not a change of trend.
Who wins and who loses
Exporters have a harder time. They sell in dollars and get fewer pesos for the same goods. That is the case for coffee, flowers, oil and any company that sells abroad. It is also the case for families who live on remittances.
On the other side are those who buy abroad. Imported clothing and technology cost less, travelling overseas is cheaper, and even paperwork gets cheaper: the U.S. tourist visa dropped in price in pesos because of this fall in the dollar.
What could happen
Nobody can be sure of the dollar's price. A lot depends on what happens in the world. If oil stays expensive, Colombia, which sells oil, receives more foreign currency and the peso can stay strong. If rates in Colombia fall, or if the dollar strengthens worldwide, the price could rise again.
Sources: Official TRM of the Government of Colombia (datos.gov.co) and Banco de la República; El Tiempo and Revista Semana (Colombia). September 10, 2026.