Dollar price in Colombia today, January 18

The dollar in Colombia has come close this week $4,000, International market movements and the uncertainty inherent in the beginning of the year are putting pressure on the flow of dollars entering the country, so in the month of January the currency may even climb to $4,003, as economic analysts predict. Bank of the Republic.

Dollar expires this Thursday, January 18th $3,912, The above represents a decline of $54 compared to Wednesday’s close ($3,966.50).

Representative market rate (trm), determined by the Financial Superintendent of Colombia, for this Thursday increased by $28.65 compared to the previous day, which places it at $3,969.50. Thus, the current TRM reached its highest level in more than a month (since last December 14); However, it decreased by $721.59 (15.38%) compared to a year ago (January 18, 2023).

Banrep gives its predictions for 2024

In the most recent monthly survey of expectations of economic analysts (EMEs), corresponding to January 2024, experts consulted by Banrep predict a representative market rate (TRM). $3,839 and $3,939 During 2024. For 2025, opinion is divided: 16.7% of analysts expect the TRM to be between $3,900 and $4,000 and another 16.7% for the exchange rate to be between $4,100 and $4,200.

In terms of cost of living (not including food), inflation is predicted among most analysts at BanRep. 0.9% and 1% For January 2024. For December, most survey participants estimate inflation to be between 5% and 5.5% (average 5.39%). According to most of the issuer’s economic analysts, inflation by 2025 will range between 3.5% and 4% (3.8% on average).

You may be interested in: BanRep projections for 2024: interest rates, inflation and GDP

🌎 Economy of the United States

The dollar remains highly dependent on decisions the United States Federal Reserve (Fed) may make regarding interest rates as they are linked to investment. That is, the lower these are, the more incentives will be created for business and hence, more greenbacks will circulate in the country, ending up in a cheaper dollar.

Resilient consumer spending has helped boost the U.S. economy in recent weeks, offsetting weakness seen in other sectors such as manufacturing, the Federal Reserve said in its “Beige Book” survey of regional trade contacts.

“Consumers provided some seasonal relief over the holidays by exceeding expectations in most boroughs and three boroughs, including New York,” according to the report released Wednesday.

“Overall, most districts indicated that their companies’ future growth expectations were positive, had improved, or both,” the report said.

You may be interested in: Manufacturing in Colombia is not raising its head: what is happening?

However, nearly all districts surveyed in the Fed survey cited one or more signs of a cooling labor market, and more than half of them saw little net change in overall employment levels. Businesses in many districts expect wage growth to continue to decline over the next year.

According to the Fed’s latest projections, the economy will grow at a solid annual rate of 2.4% in the fourth quarter. Although this represents a moderation from the impressive 4.9% rate recorded in the third quarter, consumer resilience is propelling the economy forward.

U.S. retail sales grew at the strongest pace in three months in December, outperforming economists’ expectations, Commerce Department data showed.

Meanwhile, the core inflation gauge (a calculation that does not include food or energy) has declined sharply over the past year. That is, the core index rose 1.9% in November on a six-month annual basis, just below the Fed’s 2% target. The consumer price index closed 2023 at 3.4%, after the biggest rise in three months, according to government data.

The premise regarding the price of the dollar is that the more greenbacks circulating in the country, the lower their value, therefore, what happens with the Fed will be decisive. Much of the dollar’s performance is tied to the behavior of the economy that produces them, i.e. the United States.

Have you already heard the latest news? Economic, We invite you to see them in El Espectador.