The representative market rate ruling the country this Saturday is equal to $3,916.39 for every US dollar, after the North American currency fell by $23.5 during the previous trading day. Following this stock market volatility, the Colombian peso has recorded an annual devaluation of -16.39%, given that a year ago the foreign currency in the country was quoted at around $4,683.85.
During the third week of January, the dollar registered an uptrend after moving from $3,901.38 to $3,916.39. During the last seven days. Although it has shown behavior inclined towards appreciation, the rise or fall of the US currency depends on the economic decisions that the Federal Reserve will make in the coming days.
“The devaluation of the local exchange rate against the dollar will be related to the increase or decrease in interest rates. Besides, International decisions, especially those related to inflation control, will have a direct impact on whether the currency strengthens or weakens.Marisol Salamanca, professor at the School of Business and International Development of the Gran Colombiano Polytechnic, said for the portfolio.
Dollar behavior today, Saturday, January 20
After this ups and downs, Colombian exchange houses sell the currency for about $3,890, below the current exchange rate, and they buy it at around $3,760. However, this value will depend on the establishment and region of the country in which the transaction takes place. The price of the dollar changed in Colombia during the last week:
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