It seems that the downward streak of the dollar is coming to an end and the price of the currency is trading higher for the second day in a row.
(See: When would the price of the dollar stop falling and what scenario would follow).
This Tuesday, although the currency opened at 4,427.05 pesos and has registered, for now, a minimum price of 4,420.01 pesos, its curve has been directed towards increases.
At the moment, it has had values of 4,441, 4,453, 4,456.56, 4,456.95, 4,462.62 and 4,462.70 pesos.
At 9 am, the average trading price of the currency was 4,451.01 pesos, 19.56 pesos above the Representative Market Rate (TRM) of the day, which is 4,431.45 pesos.
(See: Industry and commerce: how sales have deteriorated).
Since March and in the first two weeks of April 2023, the dollar has recorded significant losses. Only between April 10 and 14, 145 pesos fell.
According to experts, the minimum value that the US currency could reach would be 4,200 pesos and they also said that some factors that would reverse the upward price curve, in the short term, are associated with macroeconomic scenarios, uncertainty in internal political measures that would generate a country risk and to external situations, such as new measures by the Fed or bearish values in ‘commodities’ (oil).
(See: Buy or sell dollars, what is recommended at this time?).
This Monday, April 17, in addition, President Gustavo Petro reiterated, at the UN, the need to stop the exploitation of oil, gas and coal to overcome the climate crisis.
Gustavo Petro at the UN.
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(See: Why calculating the fiscal cost of reforms is a ‘tough nut to crack’).
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