Price of the dollar in Colombia is trading this Wednesday in a range of $4,425 and $4,395

The price of the dollar in Colombia adds a new day of gains this Wednesday and refuses to fall below $4,400, in the midst of the presentation of the financial results of the largest companies in the world.

(Read: Colsubsidio Supermarkets and Tiendas Ara seek to merge: this is what is known).

The foreign currency is quoted at an average price of $4,414That is, it increases 13 pesos compared to the Representative Market Rate, which is $4,401.

The US currency moves in a range between $4,425 (maximum price) and $4,395 (minimum price), while the international market operates in the red due to geopolitical uncertainty and awaiting the third quarter balance sheets of the most important companies in the world.

(See: The good, the bad and the ugly of the GDP data in the third quarter).

Locally, investors are considering the implications of the Autonomous Committee on Fiscal Rule (CARF) warnings about the complex fiscal landscape facing the National Government in 2024 and 2025 due to cash flow issues.

According to the CARF, to comply with the fiscal rule in 2024, the Government will have to cut an additional $31 billion pesos than planned, since the primary deficit as of August exceeds the goal of 0.9% of GDP. This would imply limiting monthly spending in November and December to $15.9 billion pesos, compared to the monthly average of $26.5 billion pesos recorded between January and October.

(Also: Minimum salary 2025: the cards that would be revealed on the table, soon to be installed).

In addition, CARF projects a risk of lower collections in 2024 of at least $33.3 billion pesos, derived from the poor management of the Dian, a lower collection base and the possible non-approval of the financing law. By 2025, An adjustment of $39.1 billion pesos would be required in the General Budget of the Nation to comply with the fiscal rule.

PORTFOLIO