The representative market rate as of this Thursday is equivalent to $3,927.64 per U.S. dollar., representing an increase of $13.04 from the last day of trading on the stock market, leaving the Colombian peso with an annual devaluation of -20.23%, taking into account that a year ago the North American currency was quoted at about 4 $924.00. However, over the past three days, the foreign currency has shown an upward trend, bringing it closer to the four thousand dollar barrier.
Despite upward fluctuations, the Colombian peso remains one of the most overvalued currencies in the world and one of the fastest growing currencies in Latin America. The currency that opened the trading day this Friday is below the rate and was quoted above $3920, it may be affected by decisions made by the US Federal Reserve in the coming days.
How is the dollar developing internationally?
Bye The dollar continues to strengthen on the New York Stock Exchange, while major European stock markets report strong gainsAsian indices closed lower. However, in Colombia the exchange rate of the North American currency still does not exceed four thousand pesos.
According to Stephen Innes of SPI Asset Management, “confidence continues to grow that the Fed is cutting interest rates, which noted bullish trends in the capital market over the past eight weeksare still fully entrenched in stock market sentiment,” he explained to AFP.
How did the dollar perform in Colombia this week?
In the last seven days According to Bank of the Republic reports, the North American currency left trading at $3,822.05 and reached $3,822.05. Following this behavior, Colombian exchange houses sell the currency for approximately $3,930 and buy it for approximately $3,810, depending on the institution and the region of the country in which the transaction takes place. Here’s how the dollar fluctuated this week:
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