On March 3, 2026, the US dollar in Colombia exceeded $3,800, marking a $28 rise in one day and the highest levels of the year so far. Analysts link this increase to geopolitical tensions and local elections, but do not anticipate it reaching $4,000. Experts suggest gradual purchases amid potential temporary volatility.
On March 3, 2026, the US dollar in Colombia traded above $3,800, a level not seen since mid-December 2025. This figure reflects a $28 increase from the previous day, with a $99 rise over the last week and $168 over the last month. However, compared to 2025 records, the currency is $337 lower.
Financial analysts point to local and international factors driving this trend. Alexander Ríos, financial expert and founder of Inverxia, states that projections place the dollar's 2026 close between $3,700 and $3,800, with moderate peso weakness influenced by geopolitical risks. In election years like 2022, the dollar rose 10% to 15% before votes but corrected nearly 8% afterward, a pattern that could repeat with the March 8 legislative elections.
Mauricio Acevedo, manager of distribution desks at Corficolombiana, advises investors to buy gradually at low prices, as the rebound may be temporary. "The dollar's stabilization could take three to six months, depending on the resolution of fiscal and political uncertainties. In the short term, volatility will persist due to the legislative elections," Ríos asserts.
Internationally, Juan David Ballén, director of economy and markets at Aval Asset Management, explains that military tensions between the United States and Iran have heightened global risk aversion, boosting demand for safe-haven assets like the dollar. Ómar Suárez, manager of equity at Casa de Bolsa, adds that higher oil prices create inflationary pressures, potentially leading the Federal Reserve to hold or raise interest rates.
This volatility affects daily life, such as foreign travel during Holy Week or purchases on international platforms like Temu, Shein, or AliExpress. With inflation at 5.35% and projections between 6.2% and 6.4% annually, Ríos estimates it could add 0.5% to 1% to the basic basket, impacting gasoline, transportation, and electronics prices. Local factors like uncertainty over the 2026 Financial Plan also contribute to the instability.
