Brazilian Real to Colombian Peso - Convert Compare Save
The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as exchange rates are the ratio between two currencies.
So it follows that if you are determining the best time to transact, in this case the BRL vs COP, you should pay attention to the forecasts and trends for both Brazilian Real and Colombian Peso:
Brazilian Real (BRL) outlook
2018 was a disappointing year for the Brazilian real: it lost 15 percent of its value against the US dollar and more than 10 percent against the euro.
The real started 2019 brightly: by early February, it held a year-to-date gain worth 7 percent against the dollar. Throughout February and into March, the real weakened somewhat, but then on March-22 (the day of this report), it plunged on news that former Brazilian president Michel Temer had been arrested on corruption charges — an arrest that might impede the pension reforms that analysts say are vital to Brazil’s economic recovery. A one-day fall of 3 percent following the arrest had the real down on the year, at R$3.9 per USD. A push back towards the R$4.0 handle, last seen in September, is now likely.
In March, Brazil’s central bank adopted a dovish tone and lowered its forecast for average interest rates, further burdening the real.
Despite these issues, one analyst said that he was putting capital into the real because of the “textbook” nature of the current environment, which favoured carry trades and the high-yielding currencies upon which these are based, like the real.
Colombian Peso (COP) outlook
No recent Colombian Peso market updates.
Why can't I just get the BRL/COP market rate I see online or in the media?
The BRL/COP mid-rate is the rate you will see quoted online or the news, nobody except the largest banks and businesses can get
exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the BRL / COP was traded (bought or sold) in the international markets.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
WorldRemit
Columbia