The Colombian Peso Is at a Seven-Year High -- What It Does to Your Money

The Colombian peso has hit its strongest level versus the US dollar in about seven years, pushing the official Tasa Representativa del Mercado (TRM) to 3,048.12 pesos per dollar for this weekend. That rate is the lowest official level since 9 October 2018 and represents an 80.53-peso weekly decline, a 2.57% drop in the dollar. Compared with the 3,127.51 TRM on 14 August, someone converting the same monthly US$3,000 transfers now receives about 238,170 pesos less—roughly US$78—over nine days. The peso strength is linked to domestic fiscal signals and a Banco de la República stance of keeping the policy rate at 12.0%, while a weaker dollar index around 98.50 reflects markets pricing possible Federal Reserve cuts.