Colombian Peso exchange rate and related issues

[Medellin Rum]

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!

[Medellin Rum]

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.

[Admin]

Thread Starter.