“The Latest Dollar Exchange Rates in Colombia: Updates and Forecasts”

2023-04-17 14:13:05

The dollar in Colombia The week of April 17 to 21 began with a lot of movement and it has already been traded at less than 4,420 pesos.

This Monday, the currency opened 4.410 pesos, value that, for now, is also the lowest that it has registered in the day.

(See: When would the price of the dollar stop falling and what scenario would follow).

For his part, the highest price has been, for the moment, 4,433 pesos. And other values ​​that it has had on the day have been 4,420, 4,423.46, 4,424, 4,426 and 4,430 pesos.

At 9 am, the average trading price was 4,423.70 pesos, 1.57 pesos less than the Representative Market Rate (TRM) of the day, which is 4,425.27 pesos.

In recent weeks, the dollar has lost ground once morest the peso. Only in the week of April 10 to 14, the US currency lost 145 pesos.

(See: Trade between Colombia and Venezuela totals US$70.5 million in 6 months).

According to experts, the fall of the currency might occur up to 4,200 pesos and then it would have a rebound effect to rise and stay at the values ​​of recent months.

David Pérez-Reyna, a professor at the Universidad de los Andes School of Economics, said that if there are no “surprises” that might affect the country’s fiscal sustainability or competitiveness, the dollar will continue to fall to get closer to the cbehavior more similar than other currencies in Latin America have had.

(See: Buy or sell dollars, what is recommended at this time?).

And Darío Rondón, Operations professional at the investment bank Values ​​AAA,
estimates, recalled that some factors that might invert the price curve in the short term are associated with macroeconomic scenarios, incertainty in internal political measures that would generate a country risk and to external situations, such as new measures by the Fed or bearish values ​​in ‘commodities’ (oil).

(See: Why calculating the fiscal cost of reforms is a ‘tough nut to crack’).

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