If you’re landing at El Dorado International Airport in Bogotá today with a pocket full of US dollars, things look a lot different than they did even six months ago. The math has changed. It used to be easy to just multiply everything by 4,000 and feel like a king, but those days are effectively over for now.
Right now, 1 USD is trading at approximately 3,689 Colombian Pesos (COP).
To be precise, as of January 17, 2026, the Market Representative Rate (TRM) is hovering right around that 3,690 mark. Just a few days ago, on January 14, it actually dipped as low as 3,650 COP. That is a massive shift from the 4,300+ levels we saw throughout much of late 2024 and early 2025.
Essentially, your dollar doesn't go nearly as far as it used to. But why?
The "Super Peso" and the 2026 Reality
Colombia is currently experiencing what some analysts are calling a "Super Peso" phase. It's kinda wild when you think about it. For years, the narrative was that the peso was in a death spiral. Now, the Colombian peso has emerged as one of the strongest emerging market currencies in the world.
Several things are happening at once to make this happen:
- Interest Rates: The Banco de la República (Colombia’s central bank) has been incredibly cautious. While the US Federal Reserve started looking at cuts, Colombia kept rates relatively high to fight inflation. This makes Colombian assets—like government bonds—very attractive to big international investors.
- Foreign Investment: Despite some political noise, big money is still flowing in. Just this week, Colombia issued $4.95 billion in global bonds. The demand was insane; investors offered to buy $23 billion. That much interest in the peso naturally drives the price of the dollar down.
- Dollar Weakness: It’s not just that the peso is strong; the US dollar itself has had a rough year. The US Dollar Index (DXY) fell nearly 10% recently due to rising debt concerns and shifting global trade patterns.
What This Actually Means for Your Wallet
Let’s get real. Most people don’t care about "bond yields" or "monetary policy." They care about how much a beer costs.
Honestly, the "sticker shock" is hitting travelers hard. If you’re in Medellín or Cartagena right now, you’ve probably noticed that the "cheap" Colombia you heard about in 2023 is becoming a myth.
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Take a meal at a local spot in Cartagena. A classic plate of fried mojarra with coconut rice might run you 40,000 COP. A year ago, that was about $9. Today? You're looking at nearly $11. In a high-end restaurant in the Walled City, where that same fish might be 120,000 COP, you’re paying $33 instead of the $27 you would have paid during the peso’s weak era.
It's still affordable compared to Miami or London, but the "70% discount" feel is gone.
The Hidden Inflation Factor
There is another catch. Even though the dollar buys fewer pesos, the price of things inside Colombia has also gone up. The government recently hiked the minimum wage by 23%. While that's great for local workers, it means restaurants, hotels, and tour guides have had to raise their prices to cover their costs.
So you're getting hit twice:
- You get fewer pesos for your dollar.
- You need more pesos to buy the same thing because of local inflation.
Where to Exchange Your Money (The Right Way)
Don't go to the airport windows. Just don't. You’ll see a sign saying the rate is 3,690 COP, but they’ll offer you 3,300 COP. That’s basically lighting money on fire.
The ATM Strategy
Honestly, your best bet is usually a reputable bank ATM (Davivienda or BBVA are usually solid). They use the interbank rate, which is much closer to the official 3,689 COP you see on Google. Just make sure to "Decline Conversion" if the ATM asks. Let your home bank do the math; they’ll almost always give you a better deal than the machine in Colombia.
Western Union and Apps
Digital transfers like Wise or even Western Union are often better than physical cash exchanges. Sometimes Western Union offers a rate higher than the official TRM because of how they balance their local cash reserves, though that's less common when the peso is this strong.
Misconceptions About 1 USD in Colombia
One big mistake people make is thinking the exchange rate is the same everywhere in the country. It’s not.
In Bogotá’s business districts, the rates are tight. If you head to a border town or a very remote village, you might find people still trying to trade at 3,200 or 3,400 COP because they aren't checking the daily tickers or they’re charging a "convenience fee" for the lack of banks.
Also, don't assume that because the dollar is "weaker," the economy is booming for everyone. High interest rates make it really expensive for Colombians to get car loans or mortgages. It’s a bit of a double-edged sword. The strong peso helps lower the cost of imported goods (like iPhones or cars), but it hurts the coffee and flower exporters who get paid in dollars.
Actionable Steps for Dealing with the Current Rate
If you are planning a trip or doing business in Colombia right now, here is how to play it:
- Lock in prices now: If you're booking a hotel for next month, pay in pesos now if you think the dollar will keep dropping. If you think the dollar will bounce back, wait and pay on arrival.
- Use a No-FX Fee Card: Use cards like Charles Schwab or Capital One. Every percentage point matters when the rate is under 3,700.
- Budget 20% Higher: If you’re using a travel guide from 2023, throw it away. Or at least add 20-25% to every price mentioned. Between the exchange rate shift and the 2026 inflation, those old prices are long gone.
- Monitor the BanRep: Keep an eye on the Banco de la República's announcements. If they finally decide to slash interest rates aggressively, the peso will likely weaken, and your dollar will suddenly buy 4,000 COP again.
The bottom line is that 1 USD in Colombia is currently sitting in a "stability zone" between 3,650 and 3,750 COP. We aren't seeing the wild 5,000 COP peaks of the past, but we aren't at the 2,500 COP levels of a decade ago either. It's a new middle ground that requires a bit more budget discipline than before.
To stay ahead of the curve, check the official Tasa Representativa del Mercado (TRM) daily, as it is the only legal benchmark for transactions in the country.