Dollar: this costs you if you are going to buy and this value is paid if you sell – Personal Finance – Economy

The price of the dollar in exchange houses or of the currency that is bought at retail is not regulated, according to experts. This value depends on the exchange agents, who, in general, set it based on the available cash. and the movement of the dollar during the day, that is, supply and demand.

(Also read: Why are fears of a US recession rising?)

This season, after the significant rise that the foreign currency has presented in Colombia, the sale price of the dollar in exchange houses has also risen substantially, so much so that, in most places, it barely exceeds the value of the representative market rate (TRM) that was in force for July 13 of 4,627.46 pesos.

Portfolio carried out a survey among some exchange houses in Bogotá and found that the sale value of the US currency is 4,630, that is, the dollar is achieved up to 2.54 pesos more if compared to the current TRM on Wednesday.

(You may also be interested in: This is how excessive inflation in the US will hit the Colombian economy)

The exchange houses also said that, at this time, regardless of the price, sales are skyrocketing.

Alejandra Suárez, from Amerikan Cash, explains that this high demand for dollars in the country is due, among other reasons, to the holiday season, since many people take the opportunity to travel outside the country and enjoy time with their family.

“As it happens year after year, at this time, the supply of dollars skyrockets to pay for travel, and that also causes the price (of the currency) to rise,” he added.

For his part, and Although some exchange houses said they are not buying foreign currency at this time, they are buying the dollar at an average price of 4,480 pesos.

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