Colombia economy faces peso depreciation and gasoline price hikes

The Colombian peso has experienced significant volatility, losing 3.40% against the US dollar in a single week. This decline marks the worst relative performance in the region, as the exchange rate rose from below 3,000 to approximately 3,300 pesos.

In addition to currency fluctuations, the Ministry of Mines and Energy has implemented a price increase for regular gasoline, raising the cost by 46 pesos per gallon to a reference price of approximately 15,933 pesos. Diesel prices remain frozen to support the transport sector.

Other notable events in Colombia include a 4.1 magnitude earthquake centered in Istmina, Chocó, which was felt in Medellín and Valle del Cauca. Meanwhile, the Bogotá Transport Terminal is preparing for a massive influx of over one million travelers during the upcoming student recess week.