With the new fall registered yesterday by the dollar of $7, the currency accumulates a fall of $451, from the maximum level it reached this year, on January 6, of $4,989.
The Representative Market Rate (official dollar) of today it is $4,538.9one.
(See: Dollar fell and its minimum price touched $4,500).
For Ricardo Trejos, partner of Baker & McKenzie’s banking and finance groupTwo factors converge in the dollar: the internal political and the technical, “Well, although the fall of $400 is good news, but if you compare when the elections were consummated, we are $600 above that level and if you look at other currencies such as those of Chile and Mexico, the variation is much greater, it is say it is still cheaper with comparable currencies”, said.
Also Indian that “the market punishes us even more than the peers in the region.”
(See: Dollar in Colombia added a new loss this Tuesday).
For his part, Rodrigo Cifuentes ParísHead Corporate Finance at BDO in ColombiaHe said that despite the fact that the dollar is expected to decline these days, the fluctuation of the currency will continue in 2023.
(See: Dollar fell sharply and traded below the $4,600 level).
The movement is mainly due to the changing economic landscape, rate hikes, inflation, capital inflow and outflow transactions, and a better oil price.
(See: Dollar closed the week below $4,700).
Additionally, He stated that it is difficult to know the duration of the dollar’s loss of ground.
“They are external factors that influence. There are economic and political factors that intervene and are unstable”, warned the expert.
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