The dollar rose again, but remains below 3,900 pesos

The price of the dollar in Colombia completed two days in a row with slight increases, but without exceeding the barrier of 3,900 pesos.

This Thursday, April 11, the currency opened at 3,805 pesos and closed at 3,828.79 pesos. Other values ​​that were negotiated were 3,824, 3,825, 3,834, 3,838 and 3,842 pesos.

(See: How do the fall in gross savings figures reflect the economic reality of the country?).

During the day, in addition, The maximum value it had was 3,843 pesos and the minimum was 3,788 pesos.

At the end of the day, the average trading price of the dollar was 3,820.20 pesos, 4.76 pesos less than the Representative Market Rate (TRM) of the day, which was 3,815.44 pesos.

With this Thursday's rise, the currency remained above 3,800 for the second consecutive day, after several days in which it had established itself below that barrier, with prices that had not been seen since June 2022 (between 3,763 and 3,775 pesos ).

(See: 'We received a country with nearly $100 billion of hidden debts': President Petro).

For Juan Camilo Gómez, Director of Foreign Exchange at Credicorp Capital, The price of the dollar could reach values ​​between 3,635 pesos and 4,140 pesos.

“Historically, in the last 8 and 10 years, and without having political scenarios like the ones we had in 2022, the Colombian peso has moved between 8% and 10% annual volatility. That is, if we take the base at the end of 2023, when the dollar was between 3,875 and 3,877 dollars, we project 8% up and 8% down, that is, they can give us prices more or less between 3,635 pesos and 4,140 pesos as the maximum movement band, this if we continue behaving like a normal market and without political noise. If we add something at the local level, we can move upwards in terms of the band, but since we have been operating this semester with a completely calm market in political terms, I would say that the band we can be in is that“, he valued.

(See: The IMF highlighted that Colombia has a 'very solid' macroeconomic policy).

CAMILO HERNÁNDEZ M.
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