On November 7, amid strong volatility in financial markets, the dollar in transactions made by banks exceeded $5,100, although the official rate was $5,060.
The Christmas dollar of this 2022 is at $4,745.04 and analysts say it could drop a bit more.
(See: Dollar lost 114 pesos in the week and closed below $4,800).
Yesterday the currency that banks trade opened at $4,749, it closed at $4,737 and reached a maximum price of $4,749.50.
The average rate was $4,744.95 and the amount negotiated reached $391 million, when average transactions this year had been $1.25 billion.
(See: The fall in the dollar is not enough to reach minimum prices for the year).
Arnoldo Casas, d.Investment director of Credicorp Capital, said that in the last days of the year there is little liquidity and considered that At the end of 2022, the dollar will close at $4,750.
For his part, Diego Gómez, andCorficolombiana foreign exchange market specialist, He assured that it is possible that in the days remaining to end the year the dollar could break the floor of $4,700.
(See: Dollar fell more than 30 pesos and was quoted below $4,800).
“However, the important thing will come in January, when the market returns to normal liquidity and we see a price marking made up of a significant volume of operations”.
The specialist coincided that we entered the area with the lowest trading of the year and hence also the low volatility that we have seen in currencies in recent days.
He stated that despite messages from monetary politics that come from outside, it is predicted at least one first half of 2023 still with strong commitment to lower inflation and consequent additional increases in interest rates.
“If monetary policy has to be tightened because the labor market remains relatively strong, that could mean further devaluation pressures. Neither the Fed nor the European Central Bank seem optimistic on this front and it is a matter that remains to be seen. assured .
Sebastian Bull, investor and market analyst at Arena Alfasaid that internationally the dollar broke the long-term bullish trend and probably come a downtrend and it could be positive for emerging countries. He warned that if the dollar in Colombia moved at the rate of other currencies, it would be between $3,900 and $4,000.
Global price weak
For Ana Vera, chief economist at In On Capital, the announcements of the Ministry of Finance of the financial plan helped to value the peso, since it is assumed that in 2023 a large part of the government’s income will come from of Ecopetrol and that will imply monetizations dividend distribution increases.
(See: Dollar fell and moved away from $4,900).
mining industry yeswill continue being an important part of the accounts and fiscal adjustment. “The peso will be located near its strongest technical level, which is $4,800, but we do not rule out additional volatility given the behavior of raw materials and strong volatilities that are given by the announcements of China and the European Union, which affect demand and supply of oil.
BRIEFCASE
