The dollar continued to lose ground at the end of August. In the eighth month of the year, the American currency yielded positions in the market in response to a series of political and economic factors, headed by the institutional uncertainty in Washington.
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According to data from the Bloomberg Dollar Spot index, The green ticket fell 1.7% in this period And I deepen the downward trend that it has maintained throughout the year, coming to accumulate a depreciation close to 8%.
To get an idea that it has promoted the weakening of this currency, recent macroeconomic events must be reviewed. In the last month, The dollar was impacted by labor market results and for the expectation that the labor market begins to cut their interest rates.
In parallel to this behavior, the Currency basket of Latin America has been strengthening, especially by The impulse of the Brazilian Colombian and real weight.
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Colombian weight
In the case of Colombia, the index shows that, in August, The local currency closed with an appreciation of 4.20% against the dollar, While the Brazilian currency recorded an appreciation of 3.14%, thanks for the renewed international interest in the assets of this country.
Punctually, the Colombian weight was favored by the positive flow of dollars to the economy. According to some experts, There are remittances, tourism and exports.
In fact, through his X account, President Gustavo Petro highlighted the strengthening of Colombian debt and how this trend can impact economic indicators. “It is the weakness of the dollar, but also, a lot pointed out.
Other currencies that were strengthened were: the Paraguayan Guaraní (2.10%), the Argentine weight (1.91%), the Peruvian Sun (1.70%), the Mexican weight (1.18%), the Chilean weight (0.59%) and the Uruguayan weight (0.49%).
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