Last Friday, the dollar in Colombia closed at $4,423, which means a rise of $13.79 compared to the Representative Market Rate (TRM), which today stands at $4.423.
TRM today: follow the price of the dollar, live, today July 25
The dollar in Colombia reached a record price of 4,625 pesos on July 12, driven by global volatility due to the fear that The United States enters a recession that becomes global.
Market analysts consider that the political situation has little influence on the behavior of the exchange rate, since the Colombian peso accumulates so far this year a depreciation of 10.5% in the official price.
“Part of what is happening in Colombia and Chile is that they are countries highly exposed to raw materials: oil in the case of Colombia and copper, in the case of Chile, and both have had a price reversal. That means that we have two currencies with high sensitivity in this environment,” says BBVA Research’s chief economist, Alejandro Reyes.
So far, the Banco de la República’s policy of not intervening in the value of the dollar has proven correct and, after last week’s record, the dollar has entered an adjustment trend, with four days down, and last Thursday it closed at 4,410 pesos.
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