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The lowdown on the Columbian Peso
Economical Influences and the Columbian Peso
If you are considering converting AUD to COP, it’s good to get a snapshot on how the economy may influence the Columbian peso.
Colombia's economy depends heavily on its energy and mining exports, meaning it can be vulnerable to commodity price fluctuations.1
A large producer of coal, oil, coffee and flowers; Colombia’s economy slowed significantly in 2017 due to a mixture of declining oil prices and damage to oil pipeline infrastructure.1
Increasing external debt and weakened growth have factored in the slow expansion rate of Colombia’s economy in recent years.1
In mid-2018, the Colombian peso fell 0.95% due to external factors.2
Columbian Peso Historical Exchange Rate
Due to Colombia’s economic dependence on its commodities, it’s no surprise that the Colombian peso has experienced much fluctuation over the last 5 years.1
Beginning December 2013, you would get around 1713.01731 COP for 1 Australian dollar; by comparison just over a year later in March 2015 when 1 AUD would buy you 2054.28832 COP3, which would have made it a more affordable time to travel to Colombia!
The numbers expanded further over the following year, and by February 2016, 1 AUD was buying 2431.52936 COP. A year later in March of 2017, the Colombian peso appeared to stabilise slightly at around 2255.17312 COP for 1 AUD.3
However, by July 2017, the Colombian peso lost value again due to the drop in price of oil. 1 Australian dollar would have bought approximately 2401.24795 COP.3
2018 saw a strengthening of the Colombian peso with 1 AUD buying 2175.23465 COP as of 25 September.3
Learn more about the Columbian peso before you travel to the Colombia and create a currency rate alert so we can notify you when it hits the rate you want.
1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/co.html
3. XE- https://www.xe.com/currencycharts/?from=AUD&to=COP&view=5Y. Based on mid-market rates as of 25 September 2018.
2. Reuters - https://www.reuters.com/article/us-colombia-election/peace-economy-pose-challenges-for-colombias-new-president-idUSKBN1JE12Z
*The information contained in this article has been compiled by Travelex from different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.