He Bank of the Republic reports that the Representative Market Rate (TRM) from this Monday, May 6, 2024, is set to $3,895.41, according to the report from the Bank of the Republic. (Learn below the average negotiated price of the US dollar)
The Representative Market Rate (TRM) is the amount of Colombian pesos per one United States dollar. The TRM is calculated based on the currency purchase and sale operations between financial intermediaries that trade in the Colombian exchange market, with compliance on the same day when the currency negotiation is carried out.
Currently, the Financial Superintendence of Colombia is the one that calculates and certifies daily the Representative Market Rate (TRM) based on the operations recorded on the immediately preceding business day.
Average price of the dollar today
This price or exchange rate may vary constantly due to various economic, political and social factors. The supply and demand of currencies, interest rates, global economic conditions and geopolitical events are some of the elements that influence the determination of the price of the dollar and other currencies in financial markets.
He price at which the dollar is traded refers to the value of the US currency in relation to another currency, usually the local currency of a country. This value fluctuates in the currency markets and is determined by supply and demand in that market.
It is important to mention that this value is known since the 8:00 a.m. m. of everyday.
Today, Monday, May 6, 2024, the currency is trading at a weighted average price of $3,897.63.
At 1:00 pm every day The value at which the currency closes is reported.
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