Dollar price today 15 February | colombia news

Throughout this week, the dollar has distanced itself from the $4,000 range, and stands in the gap between $3,915 and $3,918.

At the close of trading this Thursday, February 15, the currency ended its $3,913, which represents a $5 decrease compared to last Wednesday’s close ($3,918). Throughout the day, the average price of the dollar was recorded at $3,909, reaching a high of $3,918 and a low of $3,904.

For its part, the representative market rate (TRM) set by the Financial Superintendent for this Thursday, February 15 was $3,916.61That means a decrease of $12.39 (0.32%) compared to the previous day. The current TRM is down $866.63 (18.12%) compared to Feb 15, 2023, but up $15.23 from a month ago.

In recent days, the dollar has eliminated the volatility it experienced at the beginning of the year, revealing a stability that may remain with it until the next decision of the United States Federal Reserve regarding interest rates.

What will shape the dollar?

This Thursday, February 15, the 2023 GDP data in Colombia will be known. Analysts estimate Colombia’s economic growth last year at about 1%, while government expectations are for 1.2%. GDP exceeding expectations would be good news for the market, which would welcome large inflows of investment into Colombia, creating a scenario for exchange rate depreciation.

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With international events on the agenda that usually push up the value of the dollar in Colombia, inflation data last Tuesday sent New York Stock Exchange shares and Treasury bonds falling.

Stocks moved away from their all-time highs as the consumer price index beat all estimates. The so-called basic consumer price index, which excludes food and energy costs, rose 0.4% compared with December, the biggest increase in eight months, according to data published by the government on Tuesday. In year-on-year comparison, the indicator advanced 3.9%.

Similarly, U.S. mortgage rates rose to a two-month high last week, reversing some of the momentum in the country’s housing recovery. The contract rate on a 30-year fixed mortgage rose 7 basis points to 6.87% in the week ending February 9, the highest level since early December, according to data published by the Mortgage Bankers Association (MBA). on Wednesday.

The rising cost of borrowing is bad news for the low-inventory resale market, with many homeowners trapped by low mortgage rates and unwilling to put their homes up for sale.

The MBA home mortgage applications index fell 2.5% to 149.6, a five-week low. In January, the indicator reached its highest level since April, but has declined in each of the past three weeks.

Also read: Direction of the dollar: what could be the impact on the exchange rate this week?

💵 Dollar forecast for 2024

▶️ Fedesarolo analysts expect TRM to reach $4,025 by December 2024.

▶️ Banco de la República analysts expect the TRM to range between $3,839 and $3,939 during the year.

▶️ In the government’s fiscal plan for 2024, the Finance Ministry sees relative stability of the exchange rate against the dollar. The portfolio estimates the year will close with the dollar at $4,317.

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