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Excellent news for expats with dollar income

Not so good for the US tourism industry

Excellent news.. until hyper-inflation sets in and rioting errupts in the streets and you cant get out of your city by land because of the manifestaciones blocking the roads.

We have seen this all before..

@nico peligro Welcome back to the old Colombia.

@nico peligro

Hopefully, you live near an international airport and can plan a quick getaway to another country before the protests begin.  That is why Ecuador expats are giving a hard look at living in Quito.

"Hopefully, you live near an international airport and can plan a quick getaway to another

country before the protests begin."

     -- N. Barley

----

No groups in Colombia are currently threatening violence such as blocking the roads to airport(s) as occurred in Ecuador in June of this year.

I made it out of the country on my scheduled flight out of Ecuador in late June only because my taxi driver was an experienced person who knew the back roads and got us to Quito's international airport despite having to detour several times when we encountered road-blocks and stones and fiery tires.

One plan is to have an experienced professional driver lined up so you can get to an airport if it ever comes to needing to leave the country for a while.

cccmedia

Dollar blows past 5100.

The U.S. Dollar is off to another good start to

a new week versus the Colombian Peso.

The Dollar closed on Monday at a value of

5121 Pesos, per xe.com USD-COP charting.

The Dollar backs off.

The U.S. Dollar backed off on Wednesday

from its lofty 5100-plus level.

Dropping below the iconic 5000 mark for

the first time since reaching it, the Dollar

closed at a value of 4896 Pesos on

the currency exchange.

Source... xe.com USD-COP charting

Back in the country after a long absence.

the dollar today at 4792

Dollar sheds hundreds of Pesos.

This week's back-off by the Dollar

put the U.S. currency several hundred

Pesos below the high point reached

earlier in the week.

At the close on Friday, the Dollar

was equivalent to 4806 Pesos,

according to xe.com's USD-COP

charting.

The Dollar claws back.

The U.S. Dollar came close to piercing

the 4800-Pesos level on the way down ..

then went on the upswing this week.

By the end of the week ending

today, November 18, 2022,

the Dollar was back up almost

200 points, closing today at 4889,

just 11 ticks below 5000.

Source... xe.com USD-COP charting

The channeling Dollar.

The U.S. Dollar had some ups and downs versus

the Colombian Peso during the week that ended

on Friday, November 25, 2022.  At the close on

Friday, the Dollar was valued at 4866 Pesos,

only 23 ticks below the previous week's close.

Source... xe.com USD-COP charting

4807

The drifting Dollar.

The U.S. Dollar spent most of the past week

(week ending Friday, December 9, 2022)

drifting in a channel slightly above 4800

Colombian Pesos.

The Dollar ended the week on Friday

at 4807 Pesos.

Source... xe.com USD-COP charting

I'm looking for an apartment in Barranquilla... with all the high rents, I was hoping the exchange rate would be 1:5,500 by now LOL

Drift of Dollar's value persists.

The value of the U.S. Dollar versus the Peso

is still drifting slightly lower.

The Dollar was valued at 4794 Pesos as of the

close of the currency exchange on

Friday, December 16, 2022.

Source... xe.com USD-COP charting

400 ticks below the peak.

The slow and downward drift of the U.S. Dollar

versus the Peso remains evident in the latest

currency charting at xe.com ...

The week leading up to Christmas Day 2022

saw the Dollar close at 4732 Pesos, close to

400 fewer Pesos than at the Dollar's peak

in November.

2022 end of the year result.

The U.S. Dollar ended the year on an

upbeat versus the Peso, but did not

eclipse the 5000 Peso level.

At the close today, December 30, 2022,

one U.S. Dollar was valued at 4849 Pesos.

Source... xe.com USD-COP charting

Dollar retracing toward 5000.

The U.S. Dollar moved up by 63 Pesos

in value during the first week of 2023,

the week ending January 6.

The Dollar closed the week at

4912 Pesos, according to

xe.com USD-COP charting.

A day when the Dollar is up 41 percent

over two years before.

The xe.com charts for the U.S. Dollar versus

the COP have been highlighting the percentage

change over the period of a particular chart.

The latest one-year chart shows the Dollar

up 22 percent in the past 12 months compared

to the Peso.

The latest two-year chart shows the Dollar

up 41 percent over the past 24 months.

---

Percentages in this post have been

rounded up or down to the nearest

whole percentage point.

cccmedia

Seems to be hovering around the 4800 mark for the last two months.  Makes it harder to convert in my head... 

Dollar drops to start the year.

The U.S. Dollar dropped to 4687 Pesos it closed out

the first week of the New Year.

The Dollar remains 18 percent higher compared

to its level last year after the first week of that year.

Source... usd cop charting xe.com

@cccmedia ... It doesn't seem the USD has been over 5000 peso level at any time this year (2023) nor can Colombia be called Venezuela (a widespread pre-election rumor).

Dear Futuro,

Those comments are partially correct.  The USD

slipped to below 5000 Pesos recently.  It has been

below that iconic level during these first couple of

weeks of 2023.  This Colombia forum thread

pre-dates the start of 2023 by about eight weeks.

That crack about Colombia becoming Venezuela

was a canard tossed out by proponents of some

of the also-rans in Colombia's 2022 election.

cccmedia

The Dollar's Downward Slope.

For the past two weeks, the U.S. Dollar

has seen its value slipping versus the

Colombian Peso.

As the week ended today, Friday,

January 20, 2023, the dollar was down

several hundred Pesos from early

this month, closing at 4617 Pesos.

Source... xe.com USD-COP charting

With President Petro the Colombian peso is stable. Today (Jan. 22, 2023) it is 4595.

Under President Duque the Colombian peso on July 12, 2022 was at 4608.

So BEFORE the election of Petro the peso was WORSE than it is today with Petro.

Seems all those people who took their money out of Colombia in a panic were just acting irrationally out of a false fear of "communism" (Petro is not a communist).

The reason for the recent strength of the Peso is due to the large interest rate hike by the Banco De la Republica

What effect these hikes have on the Colombian economy and inflation remains to be seen, as rates have always been much higher than in the US, Canada and Europe, consumers and businessses  are much less indebted, pay in cash, there is an extremely large "shadow" economy, and are therfore consumers and businessses are much less "leveraged" and subject to increases in the official interest rate than in North America

@futuroexpat Very simplistic way of looking at it and cherry picking data based on extreme short term "blips".

Look at the bigger picture since June last year.

Like I said, the recent run up of the peso is due to the large recent increas in interest rates , by the central bank( which is independent from Petro, despite him tryingto influence it).

We will wait to see what happens to the economy down the road, based on these hikes.

January is gone and today (January 29) dollar is at 4530 pesos. Has not been over 5000 at any time this year. On the contrary the dollar has been losing value.

If the USA defaults on its debt (because Republicans refuse to raise the debt limit) the dollar could lose its value. A devalued dollar could fetch one thousand pesos colombianos, which is what it was at when I first arrived in Colombia in the 1980s.

The debt showdown is months away, so it is

wild speculation to warn that the value

of the Dollar may crash from over 4500 Pesos

to 1000.

It's easy for politicians to play a game of

Chicken in January, not so easy later on

if the U.S. is in jeopardy of defaulting on

its obligations with the world watching.

cccmedia

Well, I would not say it is "wild speculation" since the debt limit was reached on Thursday, January 19, 2023 when the value of a dollar was COP$4670.

Since the USA hit the debt ceiling on January 19, 2023 the dollar has only gone down in value. I doubt it will ever go back up until the debt limit is increased. No previous debt limit "showdown" was ever conducted in such a hyper-partisan atmosphere with both sides vowing not to blink. ¡El pueblo gringo está bravo!

I am very worried about the dollar and its future value compared to the Colombian peso.

@futuroexpat I am EXTREMELY worried as well. I am almost  in a panic mode... should I go ahead and transfer large sums NOW before the forex crashes to to like, 1,000???

@ChineduOpara ... There is nothing we can do to influence change when it comes to macroeconomics, so I am not transferring large sums of pesos or dollars. I have half my modest wealth in pesos and half in dollars. That way whatever happens one or the other currency will be OK. Panic is probably not the best mode for making decisions, so don't make decisions from a state of panic.

Nobody gets out of here alive and you can't take your money with you when you die. As they say in Spanish: "El último paseo es sin trasteo" You come into the world with nothing and that's the way you will leave. Maybe take up a meditation practice like Zen or vipassana? YMMV

@futuroexpat Can't argue with that logic After all, money was meant to be used to improve our quality of life, not just hoard it like a mindlessly greedy 1-percenter or Russian oligarch.

I'm just accustomed to getting Uber rides for $2, haircut+manicure combos for $8.50, complete "comida rapida" meals for $6, and upscale dates at fancy restaurants for a whopping $50 for 2 people. I adjusted my budget accordingly. Going back to near-dUSA prices would almost destroy my New Way of Life and put me back into Wage Slave status. And one reason I left the dUSA in November 2022 was to gain some financial freedom and stop being a Wage Slave. Also, I'd rather not divert my funds from dividend-generating investments and into Monthly Expenses.

All I can do is hope and "pray", I suppose!

With President Petro the Colombian peso is stable. Today (Jan. 22, 2023) it is 4595.
Under President Duque the Colombian peso on July 12, 2022 was at 4608.
So BEFORE the election of Petro the peso was WORSE than it is today with Petro.

Seems all those people who took their money out of Colombia in a panic were just acting irrationally out of a false fear of "communism" (Petro is not a communist).
-@futuroexpat

Picking one date in each administration is absurd.

The Peso started to fall drastically once Petro was announce the winner...on June 7.  Money started leaving then.  Has nothing to do with when Petro was sworn in or Duque's action in his last months of office.

The 'stable' peso is not due to Petro's proposals or actions of any kind.  The Dollar is falling due to US Gov't actions...or lack thereof.

It can be easily compared to other S. American countries.  The Peso was falling until it reached 5000 once Petro won the election....one of the biggest % drops of all nations against the US$ during this time.  All currency has been gaining against the dollar since then...nothing special about Colombia.

@futuroexpat I am EXTREMELY worried as well. I am almost in a panic mode... should I go ahead and transfer large sums NOW before the forex crashes to to like, 1,000???
-@ChineduOpara

Don't let one Petrosky on this forum scare you into thinking it will drop to 1000.  It won't.  There is nothing the Colombia administration is doing to affect this.

There have been other 'showdowns' in the US Gov't Debt Ceiling fight...even shutting down the government for a few days/weeks, and nothing crashed.

The ceiling will be raised and life will go on....

Hi, here to research a move and was reading this thread with interest. The $ fall is partly down to the markets expectation that the Fed will 'pivot' or U turn as we say in England-  and will stop raising rates - will even start to cut rates when this long predicted recession kicks in. The market simply does not believe the fed is commited to tackling inflation. People think that inflation will fall as the economy tanks, but will it...

The $ fall is good though for the £ and € here :-)

Dollar rebounds.

After a rebound last week, the Dollar opens at

4697 Colombian Pesos for the week starting

today, Monday, February 6, 2023.

That's precisely 19 percent higher value for

U.S. currency compared to its value against

the Peso one year ago today.

Source... xe.com USD-COP charting

With the National Development Plan being pushed through congress and the National Paro Sunday  might see it go over 5000 again soon

@nico peligro One can only hope! And hopefully the ForEx rate stays ahead of inflation. Of course I'm thinking completely selfishly en este momento

Dollar drifts upward.

The U.S. Dollar gained 99 pesos in value

during the week that just ended on

Friday, February 10, 2023.

At Friday's close, the dollar was valued

at 4796 Colombian Pesos, according to

xe.com USD-COP charting.