So, you're looking at your bank account or maybe planning a trip to Medellín and wondering: how many colombian pesos is a dollar right now? Honestly, the answer changes while you're drinking your morning coffee, but as of mid-January 2026, we’re seeing some pretty interesting stability that we haven't seen in a while.
Right now, specifically today, Saturday, January 17, 2026, the official rate—the one the bankers call the TRM (Tasa Representativa del Mercado)—is sitting at $3,700.05 Colombian Pesos (COP).
If you haven't checked the rates since last year, this might surprise you. Remember back in early 2025 when we were hovering way up near the 4,300 mark? Yeah, things have cooled down significantly. It's been a wild ride for the peso.
The Current State of the Dollar in Colombia
Basically, if you have one U.S. dollar, you can buy about 3,700 pesos. But here's the kicker: that’s the "official" rate. If you go to a street corner exchange in Bogotá or a booth at El Dorado airport, you aren't getting that.
Casas de cambio (exchange houses) are currently buying dollars at an average of $3,600 to $3,635 and selling them for around $3,750 to $3,770. It’s a bit of a spread, right? In cities like Cartagena, where tourists are everywhere, you might even see the sell price creep up toward $3,900 because, well, that's just how the tourist economy works.
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Why the Rate is Staying Below 4,000
You might be asking why the peso is actually holding its ground. It’s not just luck. Colombia’s central bank, the Banco de la República, has been keeping a very tight grip on things.
- Interest Rates: Currently, the benchmark interest rate is held steady at 9.25%.
- Inflation: It's at about 5.1% annually. High, but finally starting to ease off from the double-digit nightmares of years past.
- Oil and Coffee: Colombia’s big exports are doing okay. When oil prices (WTI) stay around $60 a barrel, the peso usually stays relatively healthy.
There was a lot of talk late last year about a massive 23% minimum wage hike for 2026. Economists like the folks at Itaú and BBVA Research were worried this would send the dollar skyrocketing because of inflation fears. So far? The market has been surprisingly chill.
How Many Colombian Pesos is a Dollar: Breaking Down the Costs
Let’s talk real-world numbers because a "market rate" doesn't help when you're trying to buy a bandeja paisa.
If you're using a credit card from the States or Europe, your bank is probably giving you a rate very close to that $3,700 mark, minus whatever 1-3% fee they charge. If you’re carrying cash, you're losing money. It's just a fact.
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- A fancy coffee in Poblado: Maybe 12,000 COP. That’s about $3.24.
- A cross-town taxi in Cali: Roughly 15,000 COP. You're looking at $4.05.
- Monthly rent for a nice 1-bedroom in Bogotá: 3,500,000 COP. That’s roughly $945.
Wait, $945 for a nice apartment in a capital city? This is exactly why the dollar-to-peso conversion is such a hot topic. For those earning in USD, Colombia is still a bargain, even if the peso has "strengthened" recently.
What to Expect for the Rest of 2026
Predictions are a dangerous game. But looking at the data from the Superintendencia Financiera, the trend for early 2026 is downward—meaning the peso is gaining value.
The average for the last 15 days has been about $3,730. We are currently below that average. If the central bank starts cutting those 9.25% interest rates—which some analysts think will happen by March—the dollar might start climbing back up toward 3,900 or 4,000.
Misconceptions About the Exchange Rate
Most people think a "stronger" peso is always good. For Colombians buying imported iPhones or cars, yes, it's great. But for the flower exporters in Antioquia or the coffee growers in Quindío, a strong peso means they get fewer pesos for every dollar they earn abroad. It’s a balancing act that the Governor of the Central Bank, Leonardo Villar, has to manage every single month.
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Also, don't believe the "doom and gloom" headlines that say the peso is going to zero. We've seen these cycles before. The Colombian economy has proven to be remarkably resilient, even with political shifts and global uncertainty.
Actionable Steps for Managing Your Money in Colombia
Whether you're living here as a digital nomad or just visiting for the beaches, here is how you should handle your cash given the current $3,700 rate.
- Avoid the Airport Booths: I know it's convenient, but their rates are usually 5-8% worse than what you’ll find in the city centers.
- Use ATMs Wisely: Stick to bank-affiliated ATMs like Bancolombia or Davivienda. When the machine asks if you want to use "their" conversion rate, always say NO. Let your home bank do the conversion; it’s almost always cheaper.
- Digital Wallets are King: Services like GrabrFi or Wise are often giving better rates than physical exchange houses. Today, for example, GrabrFi is selling at about $3,732, which beats almost any physical booth in Bogotá.
- Track the TRM: Use the official Superintendencia Financiera website. If you see the rate jump more than 100 pesos in a day, wait a day or two to exchange large amounts. The market is "volatile-adjacent," meaning it fluctuates but usually returns to a mean.
Right now, $3,700 is the number to beat. It’s a fair rate, significantly better for the local economy than the $4,500-5,000 peaks of a couple of years ago, and still provides plenty of purchasing power for anyone coming in with US dollars. Keep an eye on the next central bank meeting on January 30th; that’s when we’ll see if this stability is here to stay or if the dollar is about to take another jump.