As the week comes to a close, the DOLLAR IN COLOMBIA is ending with a slight decline in value. For this Friday, the exchange rate is $4,175.10 pesos, reflecting a decrease of 0.34% from the previous day.
The TRM has increased by 6.98% (272.56 pesos) compared to the same day last year and has risen by 3.82% (153.47 pesos) compared to the same day last month. Over the past week, the US dollar has seen a decrease of 0.46%; however, it still shows a year-on-year increase of 5.41%.
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At the beginning of 2024, the Bank of the Republic noted that the dollar’s behavior is expected to experience significant instability due to both national and international factors, and it may stabilize in the short term.
Juan David Ballén, the director of Analysis and Strategy at Casa de Bolsa, expressed concerns about a potential recession, warning that it is possible for the dollar to continue rising and reach historic price levels again. “In the second half of the year, the dollar has been trending upwards, consistently reaching higher lows and highs, so it is not out of the question that it may fluctuate between $4,100 and $4,500 by the end of the year,” he concluded in a discussion with Infobae.
It remains below four thousand pesos. Source: iStock.
This is how the dollar has performed in the last 15 days
- September 19, 2024: 4,189.46 pesos
- September 18, 2024: 4,239.33 pesos
- September 17, 2024: 4,220.58 pesos
- September 16, 2024: 4,172.13 pesos
- September 13, 2024: 4,236.63 pesos
- September 12, 2024: 4,278.28 pesos
- September 11, 2024: 4,285.61 pesos
- September 10, 2024: 4,220.68 pesos
- September 9, 2024: 4,149.79 pesos
- September 6, 2024: 4,172.50 pesos
- September 5, 2024: 4,185.82 pesos
- September 4, 2024: 4,185.80 pesos
- September 3, 2024: 4,160.31 pesos
- September 2, 2024: 4,160.31 pesos
- August 30, 2024: 4,132.11 pesos
The week is ending and the DOLLAR IN COLOMBIA closes with a slight decrease in its value. For this Friday, the quote is $4,175.10 pesos, which is equivalent to a drop of 0.34% compared to the previous day.
The TRM (Tasa Representativa del Mercado) increased by 6.98% (272.56 Pesos) compared to the same day last year and rose by 3.82% (153.47 Pesos) compared to the same day last month. Taking into account the last week, the US dollar registered a decrease of 0.46%; despite this, in year-on-year terms, it still maintains an increase of 5.41%.
Related News
At the beginning of 2024, the Bank of the Republic had indicated that the behavior of the dollar would be exposed to wide instability, due to factors that take place at the national and international level, and that it would probably stabilize in the short term.
The director of Analysis and Strategy at Casa de Bolsa, Juan David Ballén, expressed his fear of a recession and warned that it is not out of the question that the dollar will continue to soar and register historic prices again. “In the second half of the year, the dollar has been on an upward trend and registering higher and higher lows and highs, so it is not out of the question that, between now and the end of the year, it will fluctuate between $4,100 and $4,500,” he concluded in a conversation with Infobae.
This is how the dollar behaved in the last 15 days
| Date | Exchange Rate (Pesos) |
|---|---|
| September 19, 2024 | 4,189.46 |
| September 18, 2024 | 4,239.33 |
| September 17, 2024 | 4,220.58 |
| September 16, 2024 | 4,172.13 |
| September 13, 2024 | 4,236.63 |
| September 12, 2024 | 4,278.28 |
| September 11, 2024 | 4,285.61 |
| September 10, 2024 | 4,220.68 |
| September 9, 2024 | 4,149.79 |
| September 6, 2024 | 4,172.50 |
| September 5, 2024 | 4,185.82 |
| September 4, 2024 | 4,185.80 |
| September 3, 2024 | 4,160.31 |
| September 2, 2024 | 4,160.31 |
| August 30, 2024 | 4,132.11 |
Factors Influencing the Dollar’s Performance
The fluctuations in the Colombian peso against the dollar can be attributed to several factors:
- International Economic Conditions: Changes in global financial markets, adjustments in interest rates, and the overall economic policies of major economies, such as the United States, play a crucial role.
- Local Economic Indicators: Economic growth rates, inflation, and trade balances in Colombia can also greatly affect the strength of the peso.
- Political Stability: Political uncertainty or crises can lead investors to favor safer assets, resulting in a stronger dollar.
- Commodity Prices: As a major exporter of oil and coffee, fluctuations in commodity prices can directly impact Colombia’s economy and, subsequently, the value of its currency.
Benefits of Understanding the Dollar Trends
Awareness of the dollar’s trends in Colombia is beneficial for various stakeholders:
- For Businesses: Companies Importing goods can plan their purchases better, optimizing their costs and improving profitability.
- For Investors: Investors can make informed decisions regarding currency trading, capitalizing on these fluctuations.
- For Citizens: Individuals making international transactions or travel plans can budget more effectively, thus avoiding unexpected costs.
Practical Tips for Currency Conversion
Here are some tips for optimizing currency conversion based on dollar trends:
- Monitor the exchange rate regularly using reliable financial news websites.
- Consider hedging strategies if you are a business facing significant foreign currency exposure.
- Utilize hedging products offered by banks to mitigate exchange rate risks, especially for significant transactions.
- Plan international transactions when the dollar is at a lower rate to maximize purchasing power.
Forecasts and Predictions
Experts predict that the US dollar will continue to show variability in the Colombian market, with potential movements influenced by both local and international factors. As indicated earlier, fluctuations might range between $4,100 and $4,500 in the upcoming months.
Maintaining close scrutiny on economic reports, central bank decisions, and global financial trends will be crucial for making informed decisions in this fluctuating landscape. Stay updated to navigate your financial landscape effectively.
