Dollar Domination! USD Surpasses 4000 Colombian Pesos

I just hope inflation in Colombia doesn't rise too quickly before I get there... and I hope it doesn't rise at all while I am there 

Inflation is already here and will be felt more so than the US given the reliance on imports.

I tend to concur.

I am sure it doesn't help that clueless/arrogant expats often show up in Medellin flashing (metaphorical) stacks of money, talking about "Where can I rent a studio apartment for just $1,600/month?"

Of COURSE locals will hear that and give gringo prices, "Here's one for $1,500", even though it'd normally go for $450. This drives prices up for future expats, AND - more importantly - locks the LOCALS out of their own rental markets.

Even though I am not even in Colombia yet, I can already "feel" the inflation happening there.

In fact, observing this trend in various expat groups online (and talking with actual expats over the phone) helped make me with my decision-making: my long-term stays will be in a smaller pueblo, and just visit the big cities. Hopefully I can avoid the worst of the "inflation spread" for a while. Knock on wood.

This week's exchange rate.

The U.S. Dollar continued its upward climb this week, up to 4036 Colombian Pesos, before backing off some from its 2021 highs.

The Dollar closed the week ending today, December 3, 2021, at 3966 Pesos to the Dollar.

Source.... xe.com USD-COP charting

This week's exchange rate.

The U.S. Dollar dropped slightly this week, closing the week on December 10, 2021, at 3898 Colombian Pesos to the Dollar.

This week the Dollar was down less than three-tenths of one percent against the Peso compared to the greenback's most recent moments at the 4000-Pesos level in late November.

Source... xe.com USD-COP charting

This week's currency exchange.

The U.S. Dollar crossed back above the 4,000 Pesos mark on Friday (December 17, 2021) before dipping down and closing the week at 3974 Pesos to the Dollar.

The Dollar reached a high point on Friday of 4032 Pesos before making the dip.

Source... xe.com USD-COP charting

Christmastime exchange rate.

The U.S. Dollar closed out Christmas Week 2021 just a couple of ticks below the vaunted 4,000-Pesos level, at 3998 Pesos to the Dollar.

The Dollar was valued as high as 4009 Pesos on December 21.

Note... All my currency-related posts on this thread round Pesos up or down to the nearest Peso versus the Dollar.

cccmedia

According to the OANDA site the exchange rate is 4027.69 per dollar as of 6pm on the 31st.

Exchange rate hits year-ending high notes.

Dollared Expats in Colombia have more to celebrate on New Year's Eve .. as the exchange rate closed the week -- and the year -- at 4025 Pesos to the U.S. Dollar.

Thus does the year 2021 end with the most favorable week-ending rate for the Dollar of the entire year.

Source... xe.com USD-COP charting

I visited Venezuela over twenty years ago, just before Chavez was elected, the exchange rate was about five Bolivares to the dollar.  After a few years of Chavismo the exchange rate became millions of Bolivares to the dollar and the currency was then used as wallpaper and toilet paper.  Hopefully this will not happen in Colombia but one should not be blind to what could happen if Petro wins in May.

Dollar going far at Buca restaurant.

One of my preferred restaurants in Bucaramanga these days is named Maestro in Sotomayor sector.

This afternoon, I had a sit-down meal there and ordered extra food that I'll reheat with my traveling rice-cooker for dinner.

The meal consisted of their medio-sized chicken dish, prepared Southern-fried style .. plentiful pork costillas (ribs) .. side dishes of puré (mashed potatoes) plus a large avocado salad .. and a bottle of Coke Zero (no sugar).

The tab was 42 Lucas or $10.55 US.  Not bad for two cooked-to-order platos fuertes with fixin's at an outdoor-seating restaurant with waiter service.

cccmedia in Bucaramanga

Laker4115: I was working in Venezuela just before Perez was overthrown by Chavez but it was a very different country to present day Colombia.
Colombia does not have the oil reserves which kept Venezuela going for so many years and any move here to the left or right can only be modest.
The Colombian military has learnt to keep out of the politics.

Because Venezuela had the oil, it took the Chavez crew about fifteen years to grind the country into absolute poverty.  If Petro wins Colombia does not have the oil buffer, so it should only take him about fifteen months to bring a similar level of poverty to the country.  By the way Chavez was democratically elected to power, he did not overthrow a prior government.

I'm a long time permanent resident of Colombia currently in the U.S. I still maintain a residence in Colombia. While expats like myself with access to dollars enjoys, at least temporarily, the high dollar to peso exchange rate, prices in Colombia rise and this hurts the Colombian people so it's not so good for them. The dollar is also under inflationary pressure. One day this bubble will burst unless the U.S. government has a come to Jesus moment and realizes this can't continue without serious consequences. Frankly I don't see that happening before 2024.

This week's exchange rate:  All week in The Promised Land.

The U.S. Dollar spent the entire first week of the New Year above 4000 Colombian Pesos, going as high as 4080 Pesos to the Dollar.

U.S. currency was at 4052 Pesos to the Dollar at the close of the week ending today, Friday, January 7, 2022.

Source... xe.com USD-COP charting

This week's exchange rate.

The U.S. Dollar dipped as low as 3967 today (Friday, January 14, 2022) before spurting back up across the 4000 line.  At the close for the week, U.S. currency was valued at 4007 Colombian Pesos to the Dollar.

Source... xe.com USD-COP charting

Hold the line baby!

This week's currency exchange.

As the U.S.-based equity exchanges concluded their worst week since the start of The Situation two years ago, it comes as no surprise that the U.S. Dollar also showed weakness.

U.S. currency closed the week ending January 21, 2022, at 3955 Pesos to the Dollar.

Source... xe.com USD-COP charting

This week's exchange rate.

The U.S. Dollar's value bounced around a bit, ending the week that concluded today, January 28, 2022, at 3956 Pesos to the Dollar.  That's just a single tick above the previous week's close of 3955.

Source... xe.com USD-COP charting

U.S. Dollar at all-time high in Colombia.