TRM(2620) vs. Interbank(2733)

Today El Universal lists the TRM at 2620 COP to the US dollar. OANDA lists the interbank rate at 2733. I know what the Interbank rate is. And it seems that I usually get just less than the Interbank rate on my ATM withdrawals.

What is the TRM? Seems that these two numbers were closer a month ago.

By tomtom33 on Jun 28, 2006, 18:18 in Friendly Talkzone.

mecca says on Jun 28, 2006, 18:57:

tomorrow (thurs) TT...just sent money on Tuesday...it will convert on thursday...I'll let you know what it converts to...it was a wire transfer to my atty's account and we usually get the best rates to Convai..

I'm getting excited about these exchange rates...

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Gator says on Jun 28, 2006, 20:44:

TRM is the Representative Exchange Rate (TRM in Spanish is Tasa Representativa del Mercado), which is the exchange rate for the American dollar set by the central bank. Usually used for official import/export activities, including wire transfers. The TRM is the simple arithmetic mean of the weighted rates offered by all financial institutions involved in the purchase and sale of foreign currencies over the previous ten-day period. The TRM, certified daily by the Banking Superintendency of the central bank, the Banco de la República. It is used as a base for international credit-card payments, foreign-trade operations and other services paid in foreign exchange.

Check around for a better rate. I have several stores in the malls who always want dollars and give me a pretty good rate.
"SIC FRIATUR CRUSTUM DULCE. OBESA CANTAVIT."

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

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