With the expectations of the financial markets about significant increases in interest rates in the United States, together with the volatility generated by the electoral process given the proximity of the presidential elections, The price of the dollar in Colombia continues its upward run and returns to levels of 4,000 pesos this Monday, May 2.
According to data from real-time operations of the Banco de la República and the Colombian Stock Exchange, the currency began the month of May reinforcing the upward trend of recent days, since it opened at 3,980 pesos.
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After that, operations above 4,000 pesos were registered, since the maximum level reported at 9:57 in the morning was 4,011 pesos.
Subsequently, the average price, which is the one that approximates the official value of the following day, was 4,001.31 pesos per dollar at 11 in the morning, for an increase of 35.04 pesos with respect to the official price of this Monday, May 2, of 3,966.27 pesos.
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According to analysts from Banco de Bogotá, in May the volatility in the foreign exchange market could increase, responding to local and international factors, which could even push the exchange rate price above the barrier of 4,000 pesos.
“On the external front, the focus will be on the Federal Reserve meeting and the adjustments in market expectations regarding the path of interest rates. At the local level, the focus of attention will be on the first round of the presidential elections and the volume of votes that each of the candidates can obtain,” assured the entity’s Economic Research area.