The U.S. dollar It is one of the strongest currencies in the world; since it is most frequently used as a reference to determine the value of other local currencies. At the same time, this currency, which in recent years has had historical increases and lows, has an important trajectory; Well, in addition to coming from one of the largest and most influential economies in the world, it is one of the most stable and accepted currencies in financial contexts, so Their behavior influences the global economy.
In that sense, this currency has had a “stable” behavior during the last days; since its equivalence with the Colombian peso has not experienced significant changes. However, she has had a lslight downward trend, since the week started with a TRM of $3,895.41 COP, but how does this currency behave today, May 8? Here we tell you and make a Analysis from an expert on whether it is a good time to invest and buy dollars in Colombia:
This is how the price of the dollar opened TODAY: did it go up or down?
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This currency started the day this Wednesday, May 8, with a value above that established during the previous day; since an opening of $3,905 COP was set, a minimum value of $3,900 COP and a maximum equivalence of $3,908 COP.
For its part, the representative market exchange rate (TRM) was established by the Bank of the Republic at $3,884.84 COP, which means a drop compared to those established in recent days. However, it should be noted that the latter is calculated based on the operations of the previous business day.
Is it a good time to invest and buy dollars?
In this regard, the expert in economics and certified financial advisor, Andrés Moreno Jaramillo, He spoke with Caracol radio, mentioning that it is important to keep in mind that the values of the current dollar are not expensive; well, Taking into account the historical average of the last two years, this currency is “down”.
In that sense, Moreno explains: “what stock market advisors and analysts recommend is that they buy when this currency falls (…) and “Right now the dollar is not expensive, so this is a good time to buy dollars”adding that the current prices are prices from the year 2020 or 2021.
In turn, the expert clarifies that, Although the dollar may continue to fall to $3,700 COP, that risk is lower compared to the probabilities that it will rise. However, he highlighted that when foreign currency is purchased, It is important to do it as a long-term investment.
Where to buy dollars in Colombia?
If you want to buy or sell these currencies, the safest way to do so is through the entities authorized for the purchase and sale of these currencies that are part of the regulated and free market. In this case, the purchase of dollars or euros can be made in banking entities that offer this service and that offer currencies at a low value close to the real value, so banks are presented as a good option.
However, many people choose to do so at exchange houses, several of them authorized by the National Tax and Customs Directorate located in the national territory, which have a versatile market and can offer quite competitive prices for both purchase and sale. However, it is advisable to check that the currencies are in good condition and are original, as is verified with Colombian banknotes.
Price of the euro and the pound sterling
The euro, currency used by 20 of the 27 countries belonging to the European Union, and the pound sterling, officially used in the United Kingdom, one of the territories that does not require a visa for Colombians, are other of the strongest currencies at the level global, so its equivalence is also important in terms of international trade, tourism and investment. For that reason, here we tell you how these currencies have behaved throughout the day:
On the one hand, the euro It started on the market this Wednesday, May 8, with a fixed opening rate of $4,206.6 COP. However, throughout the day it has gone down, standing at 4,178.80 COP. For its part, the pound sterling It started with an equivalent in Colombian pesos of $4,910.95 COP. However, throughout the day a rate of $4,857.35 COPa figure that presents a low trend, according to the average of recent months of the ‘Investing’ portal, which reports on financial markets worldwide.
Brent and WTI oil price
- Brent Oil Barrel: This oil started the day with an opening price of $83.03 dollars and as the morning progressed, there was a slight drop until it stood at $82.36 dollars, with a maximum figure of $83.06 dollars per barrel.
- WTI Oil Barrel: This crude oil began with an opening rate of 78.34 dollars per barrel. However, as the hours passed, it decreased slightly to stand at $77.58 dollars, maintaining a maximum value of the day of $78.40.
