The dollar continues to fall and is already trading for less than $4,800

The dollar continues to fall and is already trading for less than $4,800

After a first week of 2023 in which it exceeded 5,010 pesos, andhe dollar in Colombia completed three days down and it is already being negotiated for less than 4,800 pesos.

(See: Ministry of Finance auctions short-term TES for $375,000 million).

This Tuesday, January 11, the currency has not achieved any trading price above the barrier of 4,800 pesos.

It opened the day at 4,783 pesos and, since then, it has gone down: 4,747.77, 4,760, 4,761.19 and 4,763.43.

(See: Colombia, third in exports in the region in 2022, Cepal).

For now, the highest value it has registered has been 4,783 pesos and the minor, 4,745.05 pesos.

At 10:30 am, the average trading price was 4,757.47 pesos, 50.38 pesos less than the Representative Market Rate (TRM) of the day, which is 4,807.85 pesos.

(See: Prices continue to exceed forecasts: adjustments to be expected).

In the first week of 2023, the US currency had a strong volatility in its price: close to $200.

Among the factors that influenced their movements, both upwards and downwards, were a strong reaction to the 2022 inflation figure (13.12%) in Colombia, uncertainty due to the high rates of covid-19 contagion in China and lower prices of raw materials.

(See: Inflation continues to beat measures to contain it: what is happening).

The Government Financial Plan for 2023 indicates that the dollar would remain in a range between 4,700 and 4,800 pesos during the year. Some banking entities agree with this forecast and others place it below 4,700 and above 5,000 pesos.


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