Exchange Rate in Colombia
Colombia's exchange rate from 2013 to 2022 was heavily influenced by oil prices, given the economy's reliance on oil exports. The Colombian Peso tended to depreciate over the last 10 years, particularly during times of low oil prices and global economic uncertainties. The 2020 pandemic further weakened the Peso due to reduced oil demand and a flight to the safe haven of the U.S. dollar. In 2022, the currency plummeted due to political uncertainty over President Petro's reform agenda, as well as rate hikes by the U.S. Fed.
The exchange rate ended 2022 at COP 4,810 per USD, compared to the end-2021 value of COP 3,981 per USD and the figure a decade earlier of COP 1,927 per USD in Colombia. For more exchange rate information, visit our dedicated page.
Colombia Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for Colombia from 2014 to 2023.
Source: Macrobond.
Colombia Exchange Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Exchange Rate (COP per USD, eop) | 3,277 | 3,433 | 3,981 | 4,810 | 3,822 |
| Exchange Rate (COP per USD, aop) | 3,281 | 3,693 | 3,743 | 4,255 | 4,325 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Colombian exchange rate projections for the next ten years from a panel of 39 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Colombian exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Colombian exchange rate projections.
Want to get access to the full dataset of Colombian exchange rate forecasts? Send an email to info@focus-economics.com.