Dollar rises again this Wednesday, after exceeding $4,400 the previous day

After having once again surpassed the $4,400 barrier the previous day, the dollar in Colombia strongly expanded its gains this Wednesday and its maximum price exceeded $4,500, while the international market reacts to the most recent inflation data in the United States.

(Read: US inflation rises two tenths in October to 2.6% and abandons its streak of declines).

According to the Colombian Stock Exchange (BVC), The US currency closed at an average price of $4,476, which represents an increase of 63 pesos compared to the TRM of the day, which was $4,413..

For its part, the maximum price of the dollar reached $4,547, so it is possible that it will exceed this level in the coming sessions.

The market reacts to the inflation rate figure in the United States, which rose two tenths in October and stood at 2.6%, as reported this Wednesday by the Bureau of Labor Statistics.

This increase breaks the streak of six consecutive months of decline.

(Also: Colombia’s external debt fell to 48.2% of GDP in August).

It is worth remembering that last Thursday, the Fed announced a drop in interest rates in the United States by a quarter point, the second consecutive drop since September. The reference rate of interest rates is thus in a range of 4.5% to 4.75%.

In line with previous statements, The Fed explained that incoming economic data, including inflation, will be carefully evaluated to consider additional adjustments.

(Also: The richest man in the world, Elon Musk, will join Trump’s cabinet: what position does he hold?).

After the eleven increases carried out since March 2022 to control prices, the reference rate of interest rates has been in a range of 5.25% to 5.5% since July 2023, the highest figure since January of 2001.

But, last September, the central bank decided to begin lowering rates, encouraged by the sustained decline that inflation has had in recent months (until the rise registered today).

PORTFOLIO