Colombia’s Peso Slides 2.43% to 3,287: What Expats Need to Know
Updated 1 times · Latest: 28 September 2026
Colombia’s peso just had the region’s worst day — a 2.43 percent slide to 3,287 per dollar, with early-Friday market quotes near 3,351. For dollar-paid expats that is a quiet raise; for anyone holding pesos it is the mirror image. Here is what moved, what the TRM does to your card bill, and what to watch next.
Key Facts
- The country Colombia is Latin America’s third-most-populous economy, with about 52 million people, and a dollar-pension favourite: many expats and retirees are paid in US dollars and spend in pesos.
- The background The peso had been one of the region’s steadier currencies this quarter, holding near 3,200 per dollar through most of September.
- What happened On Thursday 24 September 2026 the peso slid 2.43 percent to 3,287 per dollar at the close, its sharpest single-session drop in the regional scan, after the US Federal Reserve’s hike to 3.75–4.00 percent drove a global dollar surge.
- The numbers Early-Friday Yahoo Finance spot was 3,351.49 per dollar: US$1,000 buys COP 3,351,490, and a COP 3,000,000 rent is about US$895. The TRM in force over the weekend and through Monday is 3,306.86 per dollar (Friday’s certification was 3,329.61); a fresh TRM is certified Monday afternoon and takes effect Tuesday. At 3,306.86, US$1,000 buys COP 3,306,860 and a COP 3,000,000 rent is about US$907.
- What it means for you If your income is in dollars, your money goes further in pesos than it has all month. If you signed peso contracts or hold peso savings, the value in dollars just shrank.
- Still open Whether the slide continues or the central bank leans against it — the rate decision lands on Wednesday, with the policy rate at 12 percent since 1 July and consensus expecting no change (a forecast, not a certainty). The fresh TRM certified Monday afternoon sets Tuesday’s card and contract rates.
What Happened on Thursday
The Colombian peso closed Thursday at 3,287 per US dollar, down 2.43 percent on the session — the sharpest single-day slide in The Rio Times’ regional market scan, and a break from the 3,200-ish range that had held through most of September. The immediate driver was imported, not domestic: the US Federal Reserve’s decision last week to raise its target range to 3.75–4.00 percent strengthened the dollar against emerging-market currencies across the board, and oil-linked sentiment added pressure as Brent pushed above US$106.
The equity market barely flinched. The COLCAP slipped 0.12 percent to 2,609, holding just 0.6 percent below its 52-week high of 2,626 — a sign that local investors read the move as currency repricing rather than a Colombian problem. Turnover concentrated in the usual heavyweights, Ecopetrol and Bancolombia.
The Numbers Behind the Move
Two reference points matter for daily life. The first is the desk close of 3,287 per dollar on Thursday. The second is early-Friday trading: Yahoo Finance spot was 3,351.49 at 5:35 a.m. UTC — a market quote, not an official rate, and the direction of travel overnight was further peso weakness. At that spot, US$1,000 converts to COP 3,351,490 and a COP 3,000,000 apartment rents for about US$895.
The official yardstick is the TRM — the representative market rate Colombia’s financial superintendent certifies each business day and which governs card settlements, many contracts and accounting entries. Thursday’s TRM was 3,264.39; it expired at midnight, and Friday’s certification came in at 3,329.61. The TRM in force over the weekend and through Monday is 3,306.86, and a fresh TRM is certified on Monday afternoon, effective Tuesday. If a card payment or contract settles today, the certified rate, not the market, is what applies. The official dataset we normally quote was unavailable this morning, which is why Thursday’s TRM is the last certified figure we can stand behind.
Why the Peso Broke Ranks
Three forces stacked up. First, the dollar: the Fed’s hike and its guidance made dollar assets more attractive, and emerging-market currencies sold off across the region — Mexico’s peso and Brazil’s real both weakened on Thursday as well. Second, oil: Colombia is a crude exporter, and the market’s read on the Strait of Hormuz risk premium cuts both ways — higher Brent helps export receipts but signals the kind of global stress that pushes investors toward dollars. Third, politics: Thursday was also the day the government formally severed diplomatic relations with Iran and forced out the head of the state pensions administrator, Colpensiones, three days after appointing him. Neither move touched the currency directly, but both feed the uncertainty premium.
What It Means for Your Budget
If you earn in dollars and live in pesos, the slide is a raise. A US$1,000 transfer now buys roughly COP 3,351,490 at early-Friday spot, about COP 87,000 more than at Thursday’s TRM. Rent, groceries and domestic help all get cheaper in dollar terms. If you are on the other side of the trade, peso savings, a peso-denominated income, or a contract that pays you in pesos while your obligations are in dollars, the same move is a pay cut. Watch the TRM certified on Friday if you have settlements due: that is the number your bank will use.
For contracts and long-term planning, the honest answer is that nobody rings a bell at the top or bottom of a currency move. The drivers here are external, which cuts both ways: if the dollar’s surge fades, the peso can recover as fast as it fell; if US rates keep climbing, the pressure extends.
What to Watch Next
The near-term calendar is concrete. The next TRM is certified on Monday afternoon and sets Tuesday’s card and contract rates. The central bank decides rates on Wednesday; the policy rate has been 12 percent since 1 July, and the consensus expects no change, a forecast, not a certainty. Monday 28 September, the government is due to issue the economic-emergency decree that enables its farm-sector debt freeze, a fiscal milestone the currency will judge. The central bank’s next rate decision, the US October data cycle and Brent’s path through the Hormuz risk premium are the next external markers. And on a nine-day horizon, Colombia’s politics stay noisy: a pensions overhaul without a pensions chief, and a foreign-policy reset that keeps making headlines.
Sources
- The Rio Times desk — Colombia certified closes (peso 3,287, −2.43%; COLCAP 2,609, −0.12%), 24 September 2026
- Yahoo Finance — USD/COP spot 3,351.49, 5:35 a.m. UTC 25 September 2026 (market quote, labeled as such)
- Superfinanciera — TRM 3,264.39 valid 24 September; weekend TRM 3,306.86 in force through 28 September; Friday certification 3,329.61
- Colombia Foreign Ministry via Caracol Radio — severance of diplomatic relations with Iran, 24 September 2026
- Presidencia and Colombian press (El País, Semana) — Colpensiones chief Carlos René Montoya’s resignation, 24 September 2026
- Federal Reserve — target range 3.75–4.00 percent, 16 September 2026
- The Rio Times desk reporting, 22–28 September 2026
More: Colombia news in English, every day from The Rio Times. See also our daily guide for Monday 28 September and our dollar-strength standalone.
Why did Colombia’s peso fall 2.43 percent in one day?
Mainly because the dollar rose. The US Federal Reserve’s hike to 3.75–4.00 percent strengthened the dollar against emerging-market currencies across the board on Thursday, and the peso took the region’s largest hit, closing at 3,287 per dollar. Oil-market stress around the Strait of Hormuz and a noisy domestic political day added pressure. The COLCAP’s mild 0.12 percent slip, still within 0.6 percent of its 52-week high, suggests investors read it as imported dollar strength rather than a Colombian problem.
What is the TRM and how does it affect my card bill?
The TRM is Colombia’s official representative market rate, certified each business day by the financial superintendent. Card transactions, many contracts and accounting entries settle at the TRM, not at the market rate you see on a screen. The TRM in force through Monday 28 September is 3,306.86 per dollar; Friday’s certification was 3,329.61, and a fresh TRM is certified on Monday afternoon. At 3,306.86, US$1,000 is worth COP 3,306,860 — and the rate that hits your card statement is the certified TRM, not the market quote on a screen.
Should I convert dollars to pesos now?
We do not give investment advice, but the mechanics are clear: at early-Friday spot of 3,351.49, a US$1,000 transfer buys about COP 3,351,490 — noticeably more pesos than at any point this month. Whether that level holds depends on factors outside Colombia, starting with the US rate path. If you need pesos for near-term expenses, the slide has already done the work for you; if you are converting savings, size the move against your own time horizon rather than a forecast.
In depth
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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