Currencies continue to fall, but the peso rebounded

For the second consecutive day the dollar in Colombia registered a fall, which accumulates $108, but against the main Latin American currencies yesterday it continued to present strong increases, especially with Chile.

(Read: Effects on ordinary citizens: what would rise due to the rise in the dollar).

The Market Representative Rate (official) for this Friday is $4,519.65 andThis is $38.43 less than yesterday’s Thursday.

In the daily trading market carried out by banks, the currency opened at $4,550 and closed at $4,492 and marked an average of $4,519.92 in transactions that totaled US$1,489 million. The minimum price was $4,483, while the maximum touched $4,583.

In Chile yesterday the dollar continued to rise to $1,048 and presented a daily devaluation of 4%.

markets await higher interest rate hikes by the FED (central bank) in the United States due to high inflation.

(Also: How much are they selling the dollar in the country’s exchange houses?).

Alejandro Reyes, from BBVA Research, said that in terms of the dollar, “the recent pressure is expected to moderate towards the last quarter of 2022 to bring the average rate for the year and for 2023 to around $4,050.” “Part of what is happening in Colombia and Chile is that they are countries highly exposed to raw materials, oil in the case of Colombia and copper, in Chile, and both have had a price reversal. That makes us have two currencies with high sensitivity in this environment”, added Alejandro Reyes.

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