Buy dollars now to pay suppliers later?

What was reported

Colombia’s official reference exchange rate for September 28 is COP 3,306.86 per US dollar, according to Banco de la República’s statistics. For businesses trading internationally, exchange-rate movements can change the outcome of a transaction.

Will the dollar rise? Forecasts call for caution. In September’s Fedesarrollo–Colombian Stock Exchange survey, analysts expected COP 3,240 for December 2026, below today’s reference rate. BBVA Research’s September 24 report projects relative stability in the near term and a gradual rise from the second half of 2027. These estimates may change.

Exporters receiving dollars and paying much of their expenses in pesos may benefit from a stronger dollar. However, dollar-denominated debt or imported inputs can reduce that benefit.

For example, a COP 100 increase per dollar adds COP 1 million to a USD 10,000 transaction. Dollar recipients receive more pesos, while dollar buyers face a higher cost, before fees and hedging arrangements.

What to check in your operation

Businesses with future dollar payments can assess buying currency in stages, based on payment dates and available cash. Compare fees, returns and the cash committed: if the dollar falls, waiting would have been cheaper. A currency forward is another option to discuss with a bank. It allows businesses to agree on an exchange rate for a future date, subject to the contract’s terms. Businesses may also hold dollars in an overseas bank account. When used to pay for goods imports subject to Colombia’s mandatory foreign-exchange channeling rules, it must be registered as a cuenta de compensación and meet Banco de la República and DIAN reporting requirements. Simply holding dollars does not automatically give an account that status.

Editorial guidance; not a statement by the source.

What was reported

More news