In March The Colombian peso was the fourth strongest currency in the world, according to data from ‘Bloomberg’. Regarding the region, it was the currency that appreciated the most against the dollar.
(Read: The dollar does not stop falling: it lost more than 70 pesos at Easter).
In the region, five currencies appreciated and only one devalued. In the Colombian case, it appreciated 4.85% against the dollar, followed by the Chilean peso that had 4.59%. Then there was the Brazilian real that gained strength by 2.25% and the Mexican peso with 1.32%.
(Also: The reasons for the recent fall in the price of the dollar in the country).
In fifth place is the Peruvian sol, which in March presented a revaluation of 0.55%. By contrast, the only currency that fell was the Argentine peso with losses of 5.81% against the dollar.
For the first days of April, the dollar continued to lose strength against the Colombian peso, which has registered significant losses. For example, This April 5, the last business day of Holy Week, the currency opened at 4,575.20 pesos.
(See: The facts that will continue to influence the price of the dollar).
At the end of the day, the average trading price of the currency was 4,570.76 pesos, 16.5 pesos less than the Representative Market Rate (TRM) of the day, which is 4,587.31 pesos.
Among the reasons for the rise in the peso, as well as other currencies, is the decision of the Organization of Petroleum Exporting Countries (Opec) plus Russia to rcut production by 1.6 million barrels of oil. This fact would also impact inflation.
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