The Market Representative Exchange Rate (TRM) is the weighted average, by transaction amount, of purchase and sale transactions of U.S. dollars in exchange for Colombian legal currency, agreed for settlement in both currencies on the same day of their negotiation. These transactions carried out by Exchange Market Intermediaries (IMC) within the schedule established by Banco de la República through general regulations.

For the purposes of calculating the TRM, derivative transactions are excluded, as well as transactions conducted by the Exchange Market Intermediaries (IMC) with entities other than those supervised by the Financial Superintendency of Colombia and the Nation-Ministry of Finance and Public Credit.

The TRM is calculated on a daily basis and certified by the Financial Superintendency of Colombia, based on available information and the regulations issued by Banco de la República (only in Spanish).

The Financial Superintendency of Colombia is responsible for calculating and certifying the TRM and disclosing it to the market and to the public, in accordance with Article 40 of External Resolution 01 of 2018 (only in Spanish), issued by the Board of Directors of Banco de la República, the methodology established by Banco de la República through Regulatory Circular DOAM-146 (available only in Spanish), Article 11.2.1.4.15 of Decree 2555 of 2010 and Resolution 0416 of 2006 of the Financial Superintendency of Colombia.

Consult here the statistical information related to the calculation of the TRM