At the beginning of April, The price of the dollar does not find a floor in Colombia and continue the steps of March: andto it fell below the barrier of 4,600 pesos, reaching less than 4,590 pesos.
(See: There are expectations of moderation in annual inflation in March).
This Tuesday the 4th, the currency opened the day at 4,595 pesos and only managed to be above the barrier of 4,600 pesos with the maximum price of the day, what happened with 4,601.95 pesos.
The minimum price has been 4,577.79 pesos and other negotiation values that he marked were 4,579, 4,584, 4,584.10, 4,586, 4,588.33 and 4,590 pesos.
In the end, the average trading price was 4,587.16 pesos, 15.84 pesos less than the Representative Market Rate (TRM) of the day, which was 4,603 pesos.
It is worth remembering that the last time the dollar had a TRM lower than 4,590 was February 3, 2023: that day it was $4,584.44.
(See: The Bank of the Republic raised interest rates to 13%).
the colombian pesoDespite the global financial crisis, it has strengthened against the US dollar, making the country’s currency one of the emerging currencies that has gained the most ground.
Among the reasons for the strengthening of the peso are the regulatory measures to mitigate the banking crisis that have caused, once again, optimism due to risk in emerging countries, including Colombia and the caution that the government reforms have had, with which they have alleviated slightly the pressures that the fiscal accounts would have and the concern of international investors.
(See: How to take advantage of lower interest rates from banks).
Also, production cuts approved by the Organization of the Petroleum Exporting Countries (Opec), which has weakened the dollar.
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