The TRM (Tasa Representativa del Mercado) is Colombia's official peso-to-dollar exchange rate, published daily by the Financial Superintendency. It is the rate used to convert dollar figures into pesos in any formal report.

Because the TRM moves every day, reports fix a reference TRM so that all conversions in the period are comparable with each other.

Example: the June–July 2026 report uses a reference TRM of $3,128. With it, the USD 2,436.04 final CAPEX payment converted to $7,619,808 COP (2,436.04 × 3,128).