The dollar in Colombia continues to rise, but it would close the week below $3,900

The price of the dollar in Colombia ended the week with losses compared to Tuesday’s TRM (Monday was a holiday) and closed below $3,900, despite the fact that Dane presented the country’s economic growth figures for the first quarter of 2024 on Wednesday.

(Read: Investment in fixed capital fell by $3 trillion in the first quarter).

According to the Colombian Stock Exchange, the US currency closed this Friday at an average price of $3,832, that is, it gained 4 pesos compared to the TRM of the day, which was $3,828.

(See: Droughts and rains: the month of transition between the El Niño and La Niña phenomena).

On the previous day, The dollar had risen slightly by 4 pesos, but little by little it is recovering ground.

Despite these increases, the foreign currency lost 56 pesos throughout the week, starting Tuesday at $3,888.

Experts affirm that recent changes in the United States labor market, as well as inflation and growth figures in that country, are showing their influence on the behavior of the currency, since they shed light on what could come with the Fed on interest rates, in the midst of an increasingly confusing panorama.

(Also: Threats and hypotheses surrounding the crime against the director of La Modelo prison in Bogotá).

Meanwhile, for the local context, it must be kept in mind that the fact that Dane reported that the annual variation of the country’s economy was 0.7% for the period between January and March, It only fueled the warning voices since the negative effects that are already seen, due to the slowdown, could be aggravated in the labor market and tax collection, which are not doing well either..

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