Thread: Colombian Peso exchange rate and related issues
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06-06-07 05:49 #3
Posts: 171870 Pesos per Dollar
With the decline of the dollar against the peso, Colombia is no longer a bargain destination or a place to buy property.
Its just common sense and easy math that concludes its time to go elsewhere.
Example: June 2006, one dollar = 2600 pesos
June 2007, one dollar = 1870 pesos
If you exchanged $200,000 to pesos in June, 2006 you would receive 520,000,000 pesos.
Today your $200,000 is worth 374,000,000 pesos! You just lost 146,000,000
Now what could you buy with 146,000,000 pesos that you don't have anymore.
If you recently purchased an apartment in Medellin your still losing money. Just try and sell it and after fees and taxes you'd be upside down!
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05-18-07 16:33 #2
Posts: 17Colombian Peso exchange rate and related issues
The dollar is sinking further in value against the peso. One dollar gets you 1, 975 pesos. Colombia is becoming one of the most expensive destinations compared to a year ago (dollar was 2605).
Compare..$200,000.00 at 2600 (June 2006) was 520,000,000 pesos
$200,000.00 at 1975 (today) is 395,000,000
You just lost 125,000,000 pesos!
Your comments please.
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01-01-07 01:00 #1
Posts: 2690Colombian Peso exchange rate and related issues
Thread Starter.