The rise in the price of the dollar in Colombia continues unstoppable. After surpassing the $4,100 barrier the previous day, this Friday it extended its gains, registering a strong rise close to 70 pesos.
(Read: Dollar in Colombia: greater risk in the market takes it to the maximum).
Even, Its maximum price has already exceeded $4,200according to the report of the Colombian Stock Exchange.
At the start of the session, the US currency is trading at an average price of $4,176, that is, it gains 69 pesos compared to the Representative Market Rate which is $4,107.
(See: The dollar in Colombia does not find a ceiling and has already exceeded 4,100 pesos).
For its part, The maximum price reaches $4,215 and the minimum reaches $4,147.
Dollar iStock
According to analysts, what has been happening with the rise of the dollar in Colombia has to do with mixed signals in the financial markets. In particular, with the slowdown in the decline of inflation in Colombia, the future of interest rates in the United States and the echoes of the presidential election in Mexico.
Jackeline Piraján, an economist at Scotiabank Colpatria, says what she is seeing is a negative reaction to Mexico’s elections 12 days ago.
(Also: Preventive blocking of spending: what the Government can do and what it cannot do after this decision).
“After that, the exchange rate in Colombia has depreciated a little more than 5% and we went from operating from a level of $3,850 to a level closer to $4,000 and $4,100 pesos per dollar. Added to the above is the expectation to know the approaches of the Medium Term Fiscal Framework (MFMP)”which the Ministry of Finance will present this Friday, said the economist.
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