The price of the dollar for this festive Monday, October 17, is $4,636.78 Colombian pesos, being the highest TRM in the history of Colombia. As usual, the value is maintained during weekends (including holidays) so the next modification according to the Financial Superintendence of Colombia of the Ministry of Finance, will be until Wednesday, October 19.
The value of the dollar during the weekend increased 17 pesos compared to the last value delivered on Friday, October 14 by the Superfinanciera. In relation to the last month (September 17, 2022), the dollar increased 201 Colombian pesos according to the Representative Market Rate.
What is the TRM?
According to the Banco de la República, “the representative market exchange rate (TRM) is the amount of Colombian pesos for one United States dollar. The TRM is calculated based on the purchase and sale of foreign currency between financial intermediaries that trade in the Colombian exchange market.with compliance on the same day when the currency trading takes place”.
The Financial Superintendence of Colombia, a technical body attached to the Ministry of Finance and Public Credit, is in charge of calculating and certifying the Market Representative Rate daily based on the operations registered the previous day.
Movements of the dollar in Colombia
During the last few weeks, the dollar has continued to rise and has managed to reach the highest values in the history of Colombia, being this weekend the highest point. The last time the value of the currency was below 4,000 Colombian pesos dates back to June 18, 2022.