The US Dollar Vs. The Colombian Peso ............. Who's Up? Who's Down?

@futuroexpat I thought about that. In fact, I have made a request that they cancel the old contract and give me a BRAND NEW, ONE-YEAR contract at the new (higher) rent, and... no response.


This management seems quite unresponsive and inflexible, so it wouldn't be so bad if I decided to pack up and go live elsewhere when my lease ends in December. I'm sure I'll have to pay a higher rent at a different place (I got this apartment on a discount), but I should be OK... especially since I'll be looking for an UNfurnished place... I got this current place unfurnished so I had to buy all my own stuff anyway, including the dang curtains believe it or not.


Back to your point... I have never heard of a situation where the renter can refuse to pay the higher rent. I mean, the rent increases are spelled out in the Contract, actually... it follow some Colombian standard about rent increases following Inflation, etc., which I have heard from other people before (here in Barranquilla, and when I went property-hunting in Cali), even before this apartment raised the rent on me.

@Mr. Barley Well if I cannot renew my Digital Nomad Visa by February, then I'll just leave and come back on a Tourist Visa and stay 6 months. Then, for the remainder of 2024 I'll probably go to Thailand. Been meaning to check it out.
The main challenge for me is, where to keep my stuff while I am out of Colombia. I haven't bought a property yet, so I am kind of in limbo...
-@ChineduOpara


James L. said recently that he prefers having expats apply for the rentista visa over the digital nomad visa.   I think I asked him with a certain skepticism, if he was inferring that wages or fees that a programmer might charge as an independent consultant could be utilized toward a rentista visa.  He declined to respond.

"The main challenge for me is, where to keep my stuff while I am out of Colombia."


In Medellín and Bogotá and maybe other cities there are "U-Storage" units (minibodegas) that are places where you can store your stuff. I don't know about current prices. These were listed for Barranquilla on the internet. You know how much you can trust the internet 1f611.svg


U-Storage Barranquilla Sede Granadillo


Marmolart ... carrera 46 #km 2 bodega 228, Barranquilla, Atlántico, Colombia


OIKOS Storage Mini-Bodega ... Carrera 46 Km 2 Via al Mar, Atlantico, Barranquilla, Colombia

@futuroexpat Oh yeah I'll surely have to store my stuff in a storage unit here in Barranquilla... even after I sell or donate a few items like my poorly-designed couch I got from HomeCenter, I'll still have my fridge, washer+dryer, office desk, etc. So I'll have to follow the example of a fellow expat I used to know, and rent a storage unit. I heard they are quite affordable compared to storage units in the USA.

@futuroexpat Oh yeah I'll surely have to store my stuff in a storage unit here in Barranquilla... even after I sell or donate a few items like my poorly-designed couch I got from HomeCenter, I'll still have my fridge, washer+dryer, office desk, etc. So I'll have to follow the example of a fellow expat I used to know, and rent a storage unit. I heard they are quite affordable compared to storage units in the USA.
-@ChineduOpara

I have to laugh. I contacted an expat in Ecuador this week who runs a store reselling expat's stuff when they leave, asking him if he would like to see photos of my furniture and things. He said yes, and I sent him photos. He hasn't responded, so I take it he wasn't impressed. I guess I will be donating most of it.........

@Mr. Barley Hah! But honestly, give him a day or 2 more, then ping him. I have found that Latin America folks are TERRIBLE at timely communication... even when they have the opportunity to make money!

@Mr. Barley Hah! But honestly, give him a day or 2 more, then ping him. I have found that Latin America folks are TERRIBLE at timely communication... even when they have the opportunity to make money!
-@ChineduOpara


That is true, but this guy is a gringo, and I don't think he was impressed with my plastic furniture, and the cheapest metal bed frame that was available on the market at the time.

@Mr. Barley Ohhhh given more context, now it makes more sense!

@Mr. Barley Well if I cannot renew my Digital Nomad Visa by February, then I'll just leave and come back on a Tourist Visa and stay 6 months. Then, for the remainder of 2024 I'll probably go to Thailand. Been meaning to check it out.
The main challenge for me is, where to keep my stuff while I am out of Colombia. I haven't bought a property yet, so I am kind of in limbo...
-@ChineduOpara

.

.

.

Chine probably knows this.  But for other members:

Colombia does not offer a tourist visa.


Tourist-type visitors enter on a 90-day permit

that is stamped into their passport.  Approaching

the 90th day, the visitor may extend for an optional

90 days of additional time in La República, paying

an additional fee.


cccmedia

This may be a good time to mention that this thread

has been trending off-topic.


Comments about rental challenges and visa issues

should be posted on relevant threads, not on

this one, which is for exchange-rate news and notes.


cccmedia, designated Expat.com Colombia expert

Dollar dives below 4000 COP.


The U.S. Dollar fell below the value of

4000 Colombian Pesos on Tuesday of this week --

July 18, 2023.


As of Wednesday's close, the Dollar is valued at

3975 Pesos.


Source... xe.com USD-COP charting

I am fascinated by what is driving all of this. I am not sure what the "official" outlook on the US dollars is; but, my personal investments are recovering strongly and I have near to recovering what I had lost in my portfolio. Over the last year have earned slightly over 10% ROI and yet the dollar to COP is declining? I am thinking that the dollar got particularly strong because of fears of what Petro would do with his liberal policies; but, his inability to get his cabinet to go along with his suggestions has resulted in a bounce back. I imagine that the dollar to peso trend will return to the ten year slope if the political factors do not send it back up.


elp

The Dollar's losing streak.


The U.S. Dollar closed below 4000 Pesos for

the fourth consecutive session this week

ending July 21.


The Dollar closed the week valued at

3965 Pesos, down 200 Pesos over the

past two weeks.


Source... xe.com USD-COP

Dollar drops some more.


The U.S. Dollar's value dropped another

54 points during the week just ended on

July 28, 2023.


The Dollar closed this week at a value ot

3911 Pesos.


Source... xe.com USD-COP charting

Yep, it has been dropping fast the last couple of weeks! I am active often and it has been on steady decline.

The U.S. dollar weakened modestly in 2023, but has stabilized in recent months due to the strength of the US economy (outpacing G7 nations) under President Biden.


The US Dollar is strong against other currencies, but the Colombian peso is stronger. With President Petro the Colombian peso appreciated 7.4% against the USD over the last month, making COP the best performing among all major Latin-American currencies.


The evidence is in after his first year as president. With President Gustavo Petro the COP is a powerhouse currency. COP is now a profitable investment option internationally.


Even simple savings accounts in Colombia are hard to beat compared to savings in other currencies. Risk free CDTs in COP yield 14.5% in Colombia (Bancolombia). Core inflation is declining in the second half of this year to 5.2% in December 2023, and will continue to do so in 2024.


TODOS NOSOTROS ... "Vamos a vivir sabroso." (Vice-President Francia Marquez).

@futuroexpat


"With President Gustavo Petro the COP is a powerhouse currency"


Thats rich...


****


That is why the Peso has strengthened.


https://finance.yahoo.com/news/emerging … 26807.html

Moderated by Bhavna 8 months ago
Reason : Political
We invite you to read the forum code of conduct

Repeating wild speculation that Presidente Petro

may be fleeing to Mexico is out of place here.


We invite anyone who questions this to

read or re-read Expat.com's code of conduct.


The Home Office is monitoring and moderating

political discussion.


cccmedia, designated Expat.com expert

for this Colombia forum

Risk free CDTs in COP yield 14.5% in Colombia (Bancolombia). Core inflation is declining in the second half of this year to 5.2% in December 2023...
-@futuroexpat

.

.

.

How can Expat.com members obtain Bancolombia

CDT's (certificados de depósito a término)

that offer a lucrative yield of 14.5 percent?

What documentos  does a non-Colombian

need to present to participate in such?


cccmedia

@cccmedia well you can post my link from yahoo finance confirming the reason for the peso strenthening.


Anyone can do a Google search of financial news services and come up with the same analysis.


Censoring posts wont change facts.

Hello everyone,


@ Nico Peligro, link has been approved but please we should avoid posting any political speculations on the forum.


Thank you

Bhavna

YEAR TO DATE REPORT ON USD COP EXCHANGE RATE


If you sold US Dollars and bought COP Colombian Pesos, you would now have booked a 25% gain year to date.


If you sold COP and bought US Dollars... lo siento por su perdida... (sorry for your 25% loss).


The Colombian Peso rules ... in spite of fiscal time bombs left by the previous administration!


"Colombia will manage to comply with fiscal rule targets even as the government's debt load is expected to jump almost 40% next year, President Gustavo Petro said in a Twitter post.

President Gustavo Petro said he met with his cabinet until 5 a.m. Friday to work on the 2024 budget proposal that the government must send to Congress." (Source: Bloomberg, July 28, 2023)

Dollar breaks 4000-Peso line again.


The U.S. Dollar has rallied this week ..

and is back above 4000 Colombian pesos.


The Dollar gained about 160 Pesos in the

last couple of days, closing on Tuesday

at 4000 Pesos and on Wednesday

at 4065 Pesos.


Source... xe.com USD-COP charting

Climbing, climbing.


The U.S. Dollar's value rose another 100 Pesos

on Thursday .. and is up more than 250 Pësos

from early this week.


The exchange closed on Thursday afternoon

with the Dollar valued at 4168 Colombian Pesos.


Source... xe.com USD-COP charting



#TenThousandPosts

@cccmedia ... Just before the USD went over 4000 COP Fitch Ratings downgraded the United States of America's Long-Term Foreign-Currency Issuer Default Rating.


"Fitch Ratings - London - 01 Aug 2023: The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance ..."


Also the USD went back down a bit to 4117 Aug 4, 12:24 AM UTC

Dollar on the skids again.


As futuroexpat stated, the Dollar was above

4100 early this week.


However, it dropped again versus the Peso,

and was at 3950 Pesos to the Dollar at

the close today, Thursday, August 10, 2023.


Source... xe.com USD-COP charting

$$$


Dollar rebounds in early-week trading.


The U.S. Dollar bounced back early this week and

its value was approaching 4100 Pesos at the

close on Tuesday, August 15, after crossing

to the high side of the 4000 mark once again.


According to xe.com charting, the Dollar closed

on Tuesday at 4095 Pesos.

'Dólar' rising.


The U.S. Dollar has spent most of the last couple of days

back above the 4100-Peso level.


Heading into this week's closing session on Friday,

the Dollar is valued at 4112 Pesos.


Source... xe.com USD-COP charting

USD fighting back, gaining a little, but still far from the USD$1 = COP5000+ in Nov 2022.


Today at USD$1 = COP$4108 as of 12:00:00 UTC

The Dollar versus a benchmark.


The U.S. Dollar has been spending all week

comfortably above the 4000-Pesos benchmark.


Yesterday's close (August 24) showed one Dollar

at a value of 4098 Pesos.


Source... xe.com USD-COP charting

Well if they have trouble finding buyers for bonds, US rates will need to rise more and the USD will go up, Europe may have to start cutting already in recession, USD/EUR $ will rise. I follow the currency market closely most "experts" have been dollar bearish lately cause the Fed(Jeromes speaking today) will stop raising rates and cut by the end of the year. Noone knows but the Euro, Yuan and Yen arent pillars of strength so the $ conundrum continues

Only a one-Peso difference.


The value of the Dollar is practically  the same

as of today's close as it was late last week

when we posted here.


The Dollar heads into the final session of

August at a value of 4097 Pesos, one fewer Peso

than the value from last week.



Source... xe.cop USD-COP charting

Another upward move for the U.S. Dollar.

Despite the BRICS countries moving to expand

membership, the Dollar gained ground and closed

the week at 4134 Peos to the greenback.

BRICS nations have discussed a new currency but

the Dollar iis remaining the world reserve currency

going forward.

Source...  xe.com USD-COP charting

When this thread started the dollar exchange started with a 5 (in the five thousand range). Then it fell to COP strength to start with a 4 (in the four thousand range). Today it starts with a 3.

With the decline in the dollar, and 10% plus inflation, things have gotten 35% more expensive here in the last few months.

Woth all the visa and tax ssues  Argentina, México, Ecuador, even Chile all starting too look more attractive.

@nico peligro


Do you want Argentina to dollarize if you move there?

The Dollar in retreat.


The U.S. Dollar backed down a couple hundred Pesos in the

currency-exchange week just ended on September 15, 2023.


The Dollar dived back below 4000 Colombian Pesos during

the week,  closing at a value of 3928 Pesos to the Dollar.


Source... xe.com USD-COP charting


    The Dollar in retreat.
The U.S. Dollar backed down a couple hundred Pesos in the
currency-exchange week just ended on September 15, 2023.

The Dollar dived back below 4000 Colombian Pesos during
the week,  closing at a value of 3928 Pesos to the Dollar.

Source... xe.com USD-COP charting
   

    -@cccmedia


It's even worse today... 3,800

What some sites are projecting for future:


[link moderated] … rediction,


[link under review]

@Kwendal


I guess they don't like those links for some reason.


You can see a good forecast at walletinvester.com and search for USD to COP.

There are others out there if you search for them. Most seem to forecast a rise back to above 4000 by EOY and 4500 or higher a few years out.