The Colombian peso recovered in the first minutes of the session on Tuesday, in a respite from a streak of six days of heavy losses in which it accumulated a depreciation of 9%.
The currency strengthened 1.38% to 4,921 per dollar from Monday’s close of 4,990 per dollar.
The day before, the Colombian peso reached a historical low of 4,999 units per dollar.
Despite the morning correction, local markets remain cautious about contradictory messages from the Government regarding economic policies that have injected uncertainty into investors in recent days.
“Tensions are increasing at the level of President Petro’s coalition in Congress, as concerns about economic management grow, it is clear that the government is disorganized,” said the SunCapital Securities firm.
Markets are also cautious ahead of Friday’s monetary policy meeting, from which most agents expect a benchmark interest rate hike of 100 basis points to 11%.
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