Dollar in Colombia › Types of dollar
Dollar types in Colombia
In Colombia There is not a single price of the dollar. These are the ones we publish, what is each and when it should be looked at.
Current TRM
What it means
The TRM (representative market rate) is the official exchange rate reference in Colombia. It is calculated with the average purchase and sales of dollars made by foreign exchange market intermediaries (banks and other entities) on a business day.
Publisher
The Financial Superintendence of Colombia estimates and certifies.
When it is used
In dollar contracts, in statements to DIAN and as a basis for what credit cards charge for purchases abroad, which add up to a margin.
How it is updated
It is calculated with the operations of one working day and it is applicable from the following day. Friday It's worth the whole weekend and, if there's a holiday, until the next business day.
Where the number comes from
Financial superintendency, TRM (dat.gov.co).
Exchange offices
What it means
There is no single price: each exchange house sets its own purchase and sale. On the exchange house page we put together the ones that publish their quote on their website and we mark the one that pays the most if you sell dollars (best purchase) and the one that charges the least if you buy them (best sale). The houses buy from below and sell above the TRM.
Publisher
Every exchange house, on its own website. Values come from the public page of each, never from other quotation sites.
When it is used
When you're going to change real dollars, in cash or by transfer. It's worth comparing, because the difference between the best and the worst can be great.
How it is updated
The contributions move during the day. We consult them several times a day and we rule out those that have more than 48 hours not updated.
Where the number comes from
Complete table with the source of each entity.
Frequently asked questions
How many types of dollars are there in Colombia?
We publish 2: TRM in force, Exchange houses. The official reference is the TRM in effect; to buy or sell, you have to look at the price of the bank or the exchange house.