Dollar price in Colombia today 3 January

This Wednesday the dollar closed higher with an average price of $3,914, which means it is $18 higher than Tuesday’s close ($3,896). The representative market rate (TRM) remains at $3,895.53.

During the first period, the minimum price of the currency was $3,890 and the maximum was $3,925.

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According to analysts consulted, the value of the dollar during the first weeks of 2024 will depend on the behavior of the world oil price and the development of other international events. Furthermore, inflation data and the reaction of central banks will be decisive if interest rates fall. Therefore, the dollar will be near $3,900 by the beginning of 2024.

It is noteworthy that there are national and international factors that affect the currency and it is very important to pay attention to them. The main international factor is the monetary policy of the United States Federal Reserve.

For investors, the expectation of better interest rates is decisive; The devaluation of the local exchange rate against the dollar, although progressive, will be guided by these expectations. Furthermore, international decisions, especially decisions related to inflation control, will have a direct impact on whether the currency strengthens or weakens.

The expectation is that interest rates will fall in the US in the coming weeks, as has already begun to happen in Colombia.

Now, the macroeconomic context of the Colombian economy also has a strong influence. At the local level, the voices of confidence from the national government are decisive, raising expectations for economic growth, which is expected to rise above 1.5%. The level of security and confidence provided to investors will play an important role in the economic equation of the country.

In addition, the Bank of the Republic’s decisions regarding interest rates also directly affect the currency. The 13% reduction in this rate shows signs of a more promising future for the Colombian economy. It is also important to emphasize the increase in the flow of remittances to Colombia, which brings in a significant number of currencies that reflect a decrease in the exchange rate.

Bags

The New York Stock Exchange opened lower on Wednesday, supported by heavy capitalization in the technology sector, continuing the corrective activity that started a day earlier.

In the first trading of the session, the Star index, the industrial Dow Jones fell 0.30%, the technology-based Nasdaq fell 0.81% and the extended S&P 500 index – the main reference for investors – fell 0.49%.

Wall Street ended Tuesday’s session with mixed results, dragged down by profit-taking: the Dow Jones rose 0.07%, the Nasdaq lost 1.63% and the S&P 500 fell 0.57%.

European stock markets closed with strong losses this Wednesday, in a cautious market awaiting new monetary policy measures.

The Paris Stock Exchange fell 1.58%, its worst session since September; 1.38% in Frankfurt, its worst decline since October; London’s, 0.51%; 1.26% of Madrid, and 1.39% of Milan.

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