Dollar price in Colombia today Monday, February 5, 2024 | finance | economy

value of dollar in colombia Week started from 5th to 9th February 2024 Shot up and reached near the 4,000 peso barrier.

This Monday the currency opened at 3,944 pesos and closed at 3,958 pesos. Other values ​​recorded were 3,953, 3,954, 3,970, 3,972 and 3,975 pesos.

(See: Will Colombia comply with the fiscal rule in 2024? ‘Very’ on the horizon, according to Moody’s).

Besides, Its maximum price on that day was 3,987 pesos and minimum was 3,944 pesos.

The average trading price of the dollar at the end of the trading day was 3,975.98 pesos. 47.87 pesos more than the day’s representative market rate (TRM), Which was 3,928.11 pesos.

After starting the second month with losses and with the lowest TRM of 2024 (3,889.05 pesos on Friday, February 2), the American currency has recovered and, this Tuesday, February 6, its price officially reached the highest Will happen. Rate in the year: A TRM above 3,970 pesos.

(See: Financial plan 2024: Description of minhacienda projections).

The dollar has recently recovered against the peso, according to Alejandro Guerrero, Foreign Exchange Associate at Credicorp Capital, Recent positive data in the United States economy (such as the creation of more jobs) and the noise they generate in the market Statement by President Gustavo Petro on social networks about alleged attacks against them from institutions such as Prosecutor’s Office and Attorney General’s Office.

Dollar.

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according to experts, The currency’s behavior during 2024 will be influenced by national and international factors. One of the most important will be the monetary policy of the United States Federal Reserve.

For Marisol Salamanca, Professor at the School of Business and International Development of the Gran Colombiano Polytechnic, The devaluation of the local exchange rate against the dollar will be related to the increase or decrease in interest rates. Furthermore, international decisions, especially decisions related to inflation control, will have a direct impact on whether the currency strengthens or weakens.

(See: The Bank of the Republic lowered interest rates again: they stood at 12.75%).

According to the expert, in the national context, what will be important will be the confidence that the national government generates in the economy and economic growth expectations, as well as the level of protection and confidence it provides to investors.

Jhon Jairo Bustos Espinosa, university professor and founding partner of Insignares and Bustos Associados, Following the line of Professor Salamanca, he believes that, “Without any doubt, the value of the dollar can be influenced by the policies and decisions of the President of a country. The economic, tax and monetary decisions implemented by the government, Also “political stability can affect investor confidence and, therefore, affect the value of the national currency against the dollar.”

(See: Has the ghost of recession already descended on Colombia? That’s what Fedesarolo says).

Furthermore, on behalf of the National Government, during the presentation financial plan 2024, It was announced that the exchange rate for the end of the year was expected to be 4,317 pesos.

Camilo Hernandez m.
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