The price of the dollar in Colombia opened the second week of June 2024 without slackening in its bullish behavior and remaining above the barrier of 3,900 pesos.
The currency opened this Tuesday, June 11, at 3,930 pesos, downward, but it strengthened as the day went by and Its last value was 3,990 pesos.
(See: This is what Colombian households spend for every 100 pesos they have in their pockets).
The maximum trading value recorded during the day was 3,997 pesos and the minimum was 3,921 pesos. And other prices it had were 3,930, 3,937, 3,940, 3,952, 3,956, 3,960, 3,968, 3,970 and 3,987 pesos.
At 12:30 pm, the average trading price of the dollar was 3,961.03 pesos, 16.89 pesos above the Representative Market Rate (TRM) of the day, which was 3,944.14 pesos.
(See: With electronic invoicing, does the paper invoice disappear completely?).
So far in the sixth month of 2024, the dollar has shown strength and has traded higher, leaving behind prices below 3,900 pesos, which were the common denominator during May.
And although the ‘greenback’ has already completed just over 5 months away from the 4,000 peso barrier, so far this year has been revalued by 3.19%.
Of course, between June 2023 and June 2024, The Colombian peso is the one that has appreciated against the dollar by 5.50%.
Dollar iStock
Juan Camilo Gómez, director of foreign exchange at CrediCorp Capital, He explained that, during the first half of the year, the currency has been impacted by market challenges.
(See: The effects on the Colombian economy of suspending coal exports to Israel).
“The challenges for the dollar are more posed by international market forces and commodity variables, but in the second half we have important challenges at the local level that could cause some setbacks in the dollar again. What can they be? The Government’s social reforms and the economic growth report, among others. The latter is important because we come from a couple of quarters with a low economy in growth and income via taxes has fallen mostly due to inflation.“, he valued.
Looking to the future, The expert predicted a TRM of the dollar at 3,954 pesos.
(See: Would a tax be considered to mitigate the cash crisis the country is going through?).
CAMILO HERNÁNDEZ M.
Briefcase
