Colombian peso, the worst in the region, according to the Big Mac Index

Colombian peso, the most devalued currency in the region

Although in yesterday’s exchange session the dollar registered a slight fall, the Colombian peso reaches the highest devaluation in the region in the last 12 months by external factors related to the rise in rates in the United States, added to persistent inflation, the conflict in Ukraine, but also by internal factors related to the proximity of the presidential election.

The Representative Market Rate for today is $4,080.32 vs. yesterday’s $4,086.

Thus, the devaluation of the peso since January reaches 2.49% and in the full year (since May 2021) it is 9.84%, higher than that of the Brazilian real, 9.4%.

(Read: 8% of payments in Venezuela are in Colombian pesos).

Trading in the market yesterday opened at $4,097 and closed at $4,083.75, had an average price of $4,080.78 after having a minimum price of $4,065.55 and a maximum of $4,105.00. The amount of operations was US$1,430 million.

For Diego Gómez, a specialist in the foreign exchange market at Corficolombiana, the inflation figure in the United States of 8.3% per year shows that a stronger adjustment is coming from the Federal Reserve in terms of rates and the appetite for the dollar hits Latin American currencies. , which in the case of Colombia is added to thecertainty for the presidential election that could generate important changes to the economic model.


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