Colombia Exchange Rate


Colombia: Colombian peso declines to multi-year low in the beginning of August

August 7, 2015

The Colombian peso (COP) has been depreciating rapidly since the second half of May 2015 and hit a multi-year low of 2,925 COP per USD on 5 August. The reading was 10.9% lower than the value tallied on the same day of the previous month and 54.4% weaker compared to the same day of last year.

The peso has followed a largely depreciative trend since the second half of 2014, with the exception of a short but sharp appreciation in the beginning of 2015. This trend results mostly from the persisting low oil prices that are weighing on Colombia’s growth prospects. Indeed, oil account for over 50% of Colombia’s exports and about 20% of the government budget comes from oil revenues. The current all-time lows came on the back of tumbling oil prices as well as important volatility in China’s stock market in recent months.

FocusEconomics panelists expect the Colombian peso to trade at 2,582 COP per USD at the end of 2015. In 2016, the panel foresees the Colombian currency trading at 2,597 COP per USD.

Author:, Economist

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Colombia Exchange Rate Chart

Colombia Exchange Rate August 2015 0

Note: Daily spot exchange rate of Colombian peso (COP) against U.S. dollar (USD).
Source: Thomson Reuters.

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