The price of the dollar in Colombia closed the first week of June on the rise

The first week of operations of June 2024 in the Colombian foreign exchange market was beneficial for the dollar, since it surpassed the barrier of 3,900 pesos and remained above it.

And the ‘greenback’ closed the week of June 4 to 7 on the rise, with an increase of almost 90 pesos.

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This Friday the 7th, the currency opened at 3,960 pesos and closed at 3,930 pesos. Its maximum price was 3,963.90 pesos and the minimum was 3,927 pesos. and other values ​​at which it was negotiated were 3,930, 3,936, 3,949, 3,952 and 3,960 pesos.

In the end, the average trading price of the dollar was 3,944.19 pesos, 5.66 pesos more than the Representative Market Rate (TRM) of the day, which was 3,938.53 pesos.

As for the week, the US currency gained 83.27 pesos, since the TRM on Monday was 3,860.92 pesos.

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Thus, for the long weekend from June 8 to 10 and until next Monday, June 11, The TRM of the dollar will be at 3,944.14 pesos.

After several days without exceeding the 3,900 peso barrier, the dollar rose again in June and so far in 2024 it has already accumulated a revaluation of 3.05%. However, in the last year (June 2023 to June 2024), it is the Colombian peso that has appreciated by 7.22%.

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Regarding the behavior of the dollar in the year, Juan Camilo Gómez, director of foreign exchange at CrediCorp Capital, He explained that, during the first half of the year, the currency has been impacted by market challenges.

“The challenges for the dollar are more posed by international market forces and commodity variables, but in the second half we have some important challenges at the local level that may cause some setbacks in the dollar again. What can they be? The Government’s social reforms and the economic growth report, among others. The latter is important because we come from a couple of quarters with a low growing economy and income via taxes has fallen mostly due to inflation.“, he valued.

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Looking to the future, the expert predicted a TRM of the dollar at 3,954 pesos.

CAMILO HERNÁNDEZ M.
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