The U.S. dollar opened Friday, June 12, between 3,466 and 3,473 Colombian pesos, marking the lowest exchange rate for the currency in Colombia since 2021, according to local media reports. This decline breaks the 3,500-peso threshold, representing a multi-year low for the greenback in the Colombian market.
- Opening Price: Reported between 3,466 and 3,473 pesos.
- Historical Benchmark: Lowest valuation since 2021.
- Key Threshold: The currency fell below the 3,500-peso mark.
Why the dollar dropped below 3,500 pesos
The currency’s descent past the 3,500-peso barrier happened during Friday’s market opening. While reports vary slightly on the exact starting figure, El Tiempo reported the dollar opened at 3,466 pesos, while El Colombiano cited an opening price of 3,473 pesos. Both outlets confirmed this is the lowest price seen in three years.
A weaker dollar typically lowers the cost of imported goods and services for Colombian consumers and businesses. However, it can reduce the competitiveness of Colombian exports, as companies selling goods abroad receive fewer pesos for every dollar earned.
How this compares to previous market levels
The current price action represents a sharp contrast to the volatility seen in recent years. According to La Republica, the breach of the 3,500-peso level is a critical technical move, as the currency has now touched minimums not witnessed since 2021.
The discrepancy between reporting outlets—a difference of seven pesos between the 3,466 and 3,473 figures—reflects the rapid fluctuations occurring during the opening trade. Despite this variance, the consensus across local reports from El Espectador and other financial news sources is that the trend remains firmly downward compared to historical averages.
