Colombian peso strengthens as dollar falls below 3,300 per unit

The Colombian peso has seen a sharp appreciation, with the official exchange rate (TRM) dropping to around 3,300 pesos per US dollar in early July 2026 – the lowest level since 2020. Analysts attribute the decline to a combination of factors: a weaker global dollar, higher interest rates set by the Banco de la República (12 % policy rate), inflows of foreign capital into Colombian bonds, and stable oil prices that boost foreign‑exchange earnings.

The lower dollar reduces costs for importers, travelers and companies with dollar‑denominated debt, while exporters and remittance recipients receive fewer pesos per dollar earned. Inflation remains a concern, staying above 6 % in June, prompting the central bank to keep a restrictive monetary stance.

The trend is reflected across multiple market reports, which note technical indicators such as a Relative Strength Index in oversold territory and a MACD confirming the bearish momentum for the dollar. Projections suggest the rate could stay near the 3,300‑3,400 band through the next quarter, with limited room for further decline before a gradual rebound later in the year.