Since the mid-year holiday season has arrived, many Colombian families plan to leave the country, especially to visit cities in the United States, which is one of the main destinations for Colombians.
It is then that a very recurring and important question arises, and that is whether it is more convenient to pay with a credit card, debit card or in cash during the trip. The answer to the question has more to do with currency costs than anything else.
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In fact, in general terms, according to information released by The Republic, Using cash could be cheaper, although it may not seem like it.
Currently, in exchange offices, the dollar is selling for an average of 3,944, while the Representative Market Rate (TRM) is approximately 4,151.55. This could mean a saving of up to 207 pesos cheaper per dollar, if you decide to pay in cash, instead of using the card. The specialized media even stated that among the cheapest exchange houses are MissMoney and Banco Unión, which offer favorable prices of up to 3,830 and 3,888 pesos, respectively.
However, it is crucial to know where to buy the currency to avoid scams, especially during high demand periods such as holidays. In this sense, some exchange houses offer competitive prices such as Punto Dólar (3,940) and AmerikanKash (3,950). However, others such as Unicambios and Nutifinanzas present higher prices, selling the dollar at 4,000 pesos, for example.
The increase in the dollar has increased the costs of traveling to the United States by 8% compared to the beginning of the year. According to the economic newspaper, this situation has affected the prices of flights, accommodations, car rentals and tickets to theme parks, particularly in places such as Disney World in Orlando.
The North American currency closed at almost 4,200 pesos, which reflects a no small increase compared to the value of the Representative Market Rate (TRM) on January 1, which was 3,822.05. An increase of 8.6% is evident.
In the specific case of flights, taking as a reference a date of departure next Monday, June 17 and return on June 22, prices are observed that vary between $701 and $495, depending on the destination, with New York being the most expensive. and Miami the most accessible. For Orlando, flights are approximately $595, which at the current TRM is equivalent to 2.47 million Colombian pesos, that is, $196,053 more than what was paid in January for the same trip.
For example, regarding accommodation in Orlando, the average cost per night per person is US260, which is about 1.07 million pesos; at least 85,670 more than in January of the current year. Even renting a car can cost 66 dollars per day, which is equivalent to 274,000 pesos, when in January it was 21,700 pesos cheaper.
Tickets to the theme parks have also risen, with a price of $99 per day, which means more or less 411,000 pesos, 32,000 pesos more than in the comparison month.
These changes in costs are due to the volatility of the dollar, which last Friday ranged between lows of 4,113, after the presentation of the Fiscal Framework. Meanwhile, citizens are already living with a slight concern that is also shared among financial analysts and experts, such as David Cubides of Alianza Valores and Juan Pablo Vieira of JP Tactical Trading, who highlight the high volatility and instability in investor confidence.
According to figures from the National Administrative Department of Statistics (Dane), in 2023 about seven million people received the June bonus. Oil prices, for their part, also experienced a decline last Friday, although they remain on track to have the best week in more than two months due to demand forecasts.
