Colombian peso hits seven-year low against US dollar

The Colombian peso has experienced significant volatility, reaching a seven-year low against the US dollar. On August 11, 2026, the official Representative Market Rate (TRM) was set at 3,125.47 pesos, a decrease of approximately 1.01% from the previous day and a 16.81% drop since the beginning of the year.

Recent fluctuations in the currency were influenced by the presidential handover on August 7, which included a spending-freeze decree and proposed tax reforms, alongside discussions regarding a US security package. The TRM, which is calculated based on previous day interbank trading, saw the peso weaken by about three percent during the transition before recovering much of those losses. Because the TRM is fixed a day in advance and held through holidays, such as the Boyacá holiday, the timing of transactions significantly impacts the actual cost of currency conversion for users.