Price of dollar in Colombia today 12 January

The United States economy is the variable that weighs the most on the dollar’s fluctuations. On Thursday, it was revealed that inflation in that country accelerated through the end of 2023, challenging market expectations that the Federal Reserve would soon start lowering interest rates. Reference image.

Photo: Bloomberg Agency

In the first weeks of 2024, the dollar remains at the $4,000 range, a few pesos below this figure. This Friday, January 12, expectations for the currency’s behavior are driven by the publication of inflation data in the United States, which showed the consumer price index not falling at the expected pace.

dollar closed at its price $3,893 this Friday, January 12, which represents a $34 decrease compared to last Thursday, January 11 ($3,927) closing.

for its part, representative market rate (TRM), set by the Financial Superintendent of Colombia for this Friday, January 12, is $3,929.79. This is a decrease of $16.6 from the previous day. Additionally, the current TRM is $818.75 lower than a year ago (January 12, 2023) and $52.71 lower than a month ago.

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What is happening to the United States economy?

The United States economy is the variable that weighs the most on the dollar’s fluctuations. On Thursday, it was revealed that inflation in that country accelerated through the end of 2023, challenging market expectations that the Federal Reserve would soon start lowering interest rates.

The consumer price index closed 2023 at 3.4%, after the biggest rise in three months, according to government data. Monthly variation was also greater than expected.

Core inflation (which excludes food and energy prices) rose 0.3% in December from the previous month. In annual terms, the so-called underlying index rose 3.9%. Economists prefer the underlying indicator because they consider it a better measure of the inflation trend than the headline CPI.

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Data from the Bureau of Labor Statistics showed that prices for housing, electricity and motor vehicle insurance increased. Defying expectations of a decline, used car prices rose for the second consecutive month. Despite the rebound, the numbers were limited in a year in which inflation generally declined without much damage to the labor market, paving the way for the Fed to lower borrowing costs this year.

In their latest economic projections, officials expect three rate cuts in 2024, though officials rejected market expectations that the first cut could come as soon as March.

Treasury yields and the dollar rose, while stock index futures fluctuated after the report. The Fed’s next rate meeting will take place later this month.

The premise with respect to the price of the dollar is that the more greenbacks circulating in the country, the lower their price, so what happens to fed Will be decisive. This year, the dollar is expected to remain relatively low, below the $4,000 barrier. It is likely, as experts have said, that the $3,800 threshold will be reached again. However, all of these forecasts are subject to change to the extent that changes are recorded in the world that could affect the reduction, such as the escalation of the conflict on the Ukraine and Gaza border in addition to other geopolitical tensions. And commercial.

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