Since last January 19, the dollar in Colombia has not touched $4,000 as it does today, since the Representative Market Rate (TRM) it stands at $4,004.07.
And it is that the devaluation of the peso has registered an accelerated pace since last April 13, with 7.16%, a figure higher than the same indicatorbut measured for a year and that reaches 7.06%.
(Read: The dollar reached maximum values that it did not have 20 years ago).
In absolute terms, since May 2 of last year the dollar has risen $263.93, while since April 13, that is, in just 17 business days the currency has risen $267.37.
The imminence of a rise in interest rates in the United States by the Federal Reserve (FED) to control the inflation persistence and in part the greater electoral uncertainty in Colombia, facing the first presidential round, made the currency gain $51 yesterday and $38 against the TRM.
The opening of the exchange market day was $3,977.80, reaching a maximum rate of $4,017 and a minimum contribution of $3,977.80. The currency finally closed at $4,009.98 and the average rate for the day was $4,004.13 with a trading volume of US$1,468 million.
According to a Bancolombia report, the markets are anticipating a rise in the repo rate at the FED meeting on Wednesday, in which the market discounts a 50 basis point increase to help control the pace of inflation.
(Besides: Dollar, euro, ruble and yuan: the other war is waged in currencies).
Likewise, in the United States, 10-year Treasury bonds also registered volatility that caused them to trade above 3%, to correct and end at 2.99%.
In Colombia, the idiosyncratic factor due to the country’s electoral uncertainty has increased the agent concerns.
According to Bancolombia, in fact, the CDS risk premium registered a rise of 4.8% to reach a maximum not seen since the beginning of 2019 and stood at 249.6.
With this, the dollar strengthened globally and the Colombian peso exhibited a depreciation of 1.31%, only during yesterday’s session. For Bancolombia, in the coming days the currency is expected to be above $4,000.
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