Dollar Rises to 4,154 Colombian Peso Amid Market Uncertainty and Oil Price Fluctuations

The dollar closed Tuesday at COP 4,154.79 in Colombia, marking an increase of COP 20.86 compared to the Representative Market Rate (TRM) of COP 4,132.93.

According to Reuters, oil prices rose due to supply concerns, but gains were capped by tariff policies. The currency markets showed resilience despite global trade tensions and awaited key inflation data set for release on Wednesday.

During trading, the dollar fluctuated between a low of COP 4,130.05 and a high of COP 4,169.30. Records show 2,152 transactions, totaling US$1.275 billion.

Analysts attributed the rise in dollar demand to market players hedging forward positions while some real-sector agents sold dollars in the spot market. The peso weakened by 0.36% on Monday, reflecting broader pressure on emerging market currencies.

Concerns over U.S. tariffs on steel and aluminum, coupled with Colombia‘s fiscal challenges, contributed to the peso’s decline. A report from Visión Davivienda highlighted increased demand from foreign exchange intermediaries as a key factor driving the peso’s depreciation.

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