The dollar is one of the currencies that is of interest to the community due to its impact on the world economy. In June it presented an increase, exceeding $4,000 COP. Last Wednesday it closed at $4,034 and during the day it reached $4,051. After this panorama, experts consider that the dollar is strengthening.
This is how the price of the dollar dawned TODAY
This Thursday, June 13, the Representative Market Rate started the day at $4,023.26the highest level after about 6 months, exactly since December 1, 2023.
However, At 8:00 am it showed a slight decrease, remaining at $4,008.20 COP.
In a forum held by the University of Antioquia, Guillermo Puentes, economist and stock market expert, assured that supply and demand, which are in international trade and financial flows, are key factors that determine the price of the dollar. .
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Furthermore, among the factors that affect the exchange rate are the decisions of the Central Bank of the United States (the Federal Reserve FED), the increase in rates has an influence on the increase in the exchange rate. The price of oil can also influence.
“This weight in the Colombian economy means that there is a high correlation between the dollar and the Colombian peso, given strong movements in oil,” said Luis Alarcón, treasurer of BBVA Colombia.
What happens if the dollar rises?
According to the specialized site ‘Dólar Colombia’, when the well-known ‘greenback’ rises, the following can benefit:
- National companies that earn more by exporting and that can sell more products in the country.
- The tourism industry that receives the most foreigners and nationals.
- Households with income in dollars (remittances, investments, etc.)
- Foreign investors who will value the invested pesos.
- The government that has the largest reserves and revenue from oil taxes.
However, the rise may also be accompanied by high inflation and an increase in external debt.
The financial analyst Sebastián Toro, founder of the YouTube channel ‘Arena Alfa’, considers that the dollar has not done much so far in 2024, since it got into the range of $3,800 to $4,000. However, he stated that the moment he surpassed the $4,000 Colombian pesos, the alarms would go off due to a possible increase that I achieved to $4,295. Panorama that is already beginning to be reflected.
Good time to invest in dollars in Colombia?
Carolina Pineda, a specialist in corporate finance and part of the My Own Finances project, recommends investing in dollars, but taking some precautions. One of them is to avoid falling into predictions about the behavior of the currency, since: “It is very difficult to predict and no one can assure us what will happen to the dollar,” he said.
It is best to understand that the dollar is a volatile currency that is affected by many factors that cause it to have constant movement in its TRM.
