# Colombian Peso To Weaken Slightly In H223, But Will Retain M

> Fitch Solutions forecasts the Colombian peso will appreciate from COP4,810.2/USD at end-2022 to COP4,350/USD by end-2023, averaging COP4,500/USD. The firm expects the peso to weaken somewhat in the second half of 2023 on higher investor risk aversion, lower oil prices and a narrower interest rate differential with the US.

- Date: 2023-07-03 · published 2023-07-03T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/35315-colombian-peso-to-weaken-slightly-in-h223-but-will-retain-m
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger peso lowers the local-currency cost of imported feed inputs for Colombia, while weaker oil prices reduce energy-linked costs. The forecast is a currency outlook with limited direct effect on global grain or meal prices.

## Read by commodity

- WTI: bearish ▼
- USDCOP: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-28 | [Colombian peso hits lowest in a month on weak oil price \| Financial Post](https://feedsoft.ai/events/52400-colombian-peso-hits-lowest-in-a-month-on-weak-oil-price-financial-post.md) | -1.5% | +2.4% |
| WTI | 2022-03-15 | [Colombian peso leads global oil losses: Andes FX - Infobae](https://feedsoft.ai/events/42561-colombian-peso-leads-global-oil-losses-andes-fx-infobae.md) | +8.7% | -8.6% |
| WTI | 2020-04-21 | [Oil-sensitive Mexican, Colombian pesos lead losses in Latam \| Financial Post](https://feedsoft.ai/events/53907-oil-sensitive-mexican-colombian-pesos-lead-losses-in-latam-financial-post.md) | -32.4% | +73.9% |
| WTI | 2020-03-09 | [Colombia's central bank says economy 'can take impact' after peso takes nosedive - Colombia News](https://feedsoft.ai/events/54403-colombia-s-central-bank-says-economy-can-take-impact-after-peso-takes-nosedive.md) | -23.0% | -31.2% |
| WTI | 2021-11-23 | [Indian bonds, rupee weaken on Jerome Powell’s new term at U.S. Federal Reserve - The Hindu](https://feedsoft.ai/events/44317-indian-bonds-rupee-weaken-on-jerome-powell-s-new-term-at-u-s-federal-reserve.md) | -13.8% | -7.3% |

## Sources

- fitchsolutions.com: https://www.fitchsolutions.com/bmi/country-risk/colombian-peso-weaken-slightly-h223-will-retain-most-gains-h123-03-07-2023

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