The price of the dollar in Colombia has reached its historical maximum. This Wednesday, November 2, it reached its highest value in the entire history of the country with an average price of $5,016.05.
(Read: A dollar already costs $5,000: the outlook for the foreign exchange market).
This implies that for tomorrow, Thursday, November 3, international purchases made with a debit or credit card would be using this TRM value in transactions. Please note that all It depends on the card franchises you have.
In Colombia, banks charge purchases in dollars according to the TRM of the day the transaction is made. However, Bancolombia clarifies that in the event that the card is Mastercard and American Express, it is charged according to the TRM of the day of payment of the debt and Visa on the day of the transaction.
Now, it is also important to highlight that each franchise It has stipulated a commission at the time of making this type of purchase.
Bancolombia clarifies that for American Express, purchases in dollars or advances in the United States have no increase. When it is the case of a currency other than dollars in that country, the commission is 2%.
(Keep reading: US Federal Reserve raises its interest rate by 75 basis points).
In the case of Visa, purchases in dollars or another currency in the United States have an increase of 1%. In the case of master card purchases in dollars in that country do not have an increase, if it is an advance it is 0.45%, the same as if they are made in another currency.
This Wednesday, November 2, according to the Banco de la República, which had a TRM of $4,975.58, 1,723 operations were registered in the interbank foreign exchange market.
Remember that most international purchases are usually charged in dollars due to the parent location of the companies where these transactions are carried out, according to Juan Vargas, a financial analyst at Values AAA.
Along with this, many of the electronic stores where these products are purchased receive payments in accounts in the United States so its operation is global, according to the expert.
“This happens because paying taxes in the United States brings more competitive benefits at a financial level than in the countries where companies are doing business.Vargas points out.
Finally, the dollar is one of the safe haven currencies and for liquidity it is the preferred currency of businesses.
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