Colombia · Currency Markets
Key Facts
—The Colombian peso depreciated 3.84% between May 1 and May 15. The decline makes it the worst-performing emerging-market currency among 22 tracked. The dollar in Colombia closed at 3,796.78 pesos — levels not seen since December 2025.
—The Brazilian real fell 2.16% and the South Korean won 1.37% over the same period. Colombia’s decline outpaced every other emerging market currency in May. The depreciation reflects both global dollar strength and Colombia-specific factors.
—The Banco de la República raised rates 100 basis points to 11.25% in March 2026. The aggressive hike reflected the central bank’s response to persistent inflation. The high benchmark rate has not stabilized the currency against the combined external and political pressures.
