# USD/COP: Colombian Peso prone to weakening – Scotiabank

> Scotiabank expects the Colombian peso to depreciate modestly, with USD/COP moving toward a 4,100 range over coming quarters after trading between 3,900 and 4,000 in January. The bank says the peso will be driven mainly by the external environment near term. It forecasts quarterly USD/COP levels rising from 4,049 in Q1-24 to 4,116 in Q4-24.

- Date: 2024-02-16 · published 2024-02-16T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/31961-usd-cop-colombian-peso-prone-to-weakening-scotiabank
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A weaker peso makes Colombian purchases of imported feed ingredients costlier in local currency, while a firmer dollar can support US-dollar-priced feed commodity exports. The effect on commodity prices is modest.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/usd-cop-colombian-peso-prone-to-weakening-scotiabank-202402161529

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.