Dollar: seven days down and waiting for a decision in the US.

He dollar in Colombia ended seven days of continuous fallswith the currency dropping $260, although since the beginning of the year the figure is already $636.

(See: If the dollar should be at $3,800, why is it worth more than $4,000).

However, facing the strong devaluation experienced by the Colombian currency in the second part of 2022, net, during the last 12 months a depreciation of 6.6% is still observed.

Now, compared to the maximum rate that the currency registered in Colombia, on November 8, 2022, of $5,061.21, the decrease reaches $887.55.

Beyond the numbers in which there are winners (especially importers and those who have debts contracted in foreign currency) and losers (particularly exporters of goods and final products, as well as those who receive remittances from abroad), What is certain is that the markets are awaiting what the Federal Reserve (Fed) decides on Wednesday regarding interest rates, which could change the course of the currency in the short term.

Although there is a majority position in the markets that the US central bank will not raise rates, waiting for the decline in inflation to consolidate.

Besides, next Thursday the European Central Bank could also make decisions on interest rates.

(See: The dollar in Colombia closed the week with prices below $4,150).

In yesterday’s session, the currency that banks trade began with a sharp drop to $4,155, but then rebounded and reached $4,186, a figure at which the market closed operations.

Forehead At the last close (Thursday the 8th), which was $4,170, there was a slight increase in the currency of $16.

The highest price that the currency reached during the day was $4,202 and the minimum was $4,130. The average price of the dollar was $4,173.

During the week, The dollar in Colombia was priced steadily downward: Monday closed at $4,280, Tuesday at $4,219, Wednesday at $4,212, Thursday at $4,170 and yesterday Friday at $4,182.

To the closing of the first quarter of the year the external debt of Colombia reached US$187,371 million, which represented an increase of US$12,292 million compared to the same month last year.

In March 2022 the number of the country’s external obligations totaled US$175,079 million and represented 53.5% of GDP, according to the statistics of the Bank of the Republic.

(See: Why the dollar keeps falling? Experts explain the reasons).

The external debt of the public sector reached US$106,467 million at the end of the third month of the year, with an increase of US$4,910 million compared to March 2022, when the figure amounted to US$101,557 million. The participation in the GDP as of last March was 31.4%.

For his part, private debt amounted to US$80.903 million, which meant an increase of US$7,381 million in the last year, since at the end of the first quarter of 2022 this was US$73,522. In the first quarter of 2023, private external debt represented 23.9%.

(See: Will the price of the dollar continue to fall? This would happen in the coming weeks).

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