2023-05-31 01:10:19
The dollar closed this Tuesday, May 30, with a price of $4,408.22 andn the stock market, reinforcing the downward trend that has been seen in recent days. In this regard, the head of Economic Research of the Alianza firm, David Cubides, analyzed in Negocios Blu what are the factors for this behavior.
“Here we imagine that the dollar will continue to fall further. At a global level we see a dollar that has strengthened in the midst of the debt ceiling discussions, but the Colombian peso contradicts the movement of the dollar and our currency is appreciating”, he said.
It is worth remembering that on the day of this Tuesday there were even times when the dollar was below 4,400 pesos, so it is a factor to take into account when making different types of transactions in the country.
Thus, for Cubides, on this occasion, the drop in the dollar in Colombia has to do with local factors associated with a lower risk premium, economic flows that continue to arrive in the country and It is also an issue at the institutional level because the markets are yielding to the policies and decisions made by the national government.
In fact, according to the analyst, the price of the dollar should be lower than that seen in the last few days because the Colombian peso is stronger than other currencies in the Latin American region.
“To the extent that the markets continue to understand the actions of the new government, where the reforms are going and the future of these policies, we believe that we will gradually converge to this movement in the region (…) We might see a stage of change even below 4,000 pesos in the medium term”, said.
In other economic news:
- In April Banco de la República recorded profits close to 3.7 trillion pesos and they expect to close the year with profits of $11 billion
- El Dane reported that Bogotá and Antioquia fThe territories with the highest Gross Domestic Product (GDP) were
- Credit in Colombia slowed down and there are more defaulters, that is, more people with defaults on their debts
Listen to the complete Negocios Blu program:
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