The dollar in Colombia closed lower and fell 114 pesos in the week

The dollar in Colombia is closing the week of September 5 to 9 with a downward trend and by below 4,400 pesos.

(See: Jorge Castaño was ratified as financial superintendent).

This Friday, the currency opened the market with a price of 4,366 pesos and registered a minimum figure of 4,350.75 pesos and a maximum of 4,380 pesos.

At 9 am, its average trading price was 4,370.52 pesos, 26.17 pesos below the Representative Market Rate (TRM) of the day, which is 4,396.69 pesos.

(See: Why Consumer Confidence Has Improved.)

Other prices registered by the currency were 4,365.67 and 4,353 pesos.

And the day ended with an average price of 4,364.67 pesos, 32.02 pesos less than the TRM.

The week was very volatile, because after touching the barrier of 4,500 pesos between Monday and Tuesday, from Wednesday the dollar deflated.

Moreover, comparing the average trading prices of Monday 5 (4,479.09 pesos) and Friday 9 September (4,364.67 pesos), the currency fell 114.42 pesos.

Dollar market analysts say that, at an international level, the strength of the US currency increases due to the expectation of the rise in interest rates by the Federal Reserve (Fed) to deal with inflation in that country.

(See: Foreign debt for US$175,917 million at the end of the semester).

And they explain that despite the recent falls, the upward trend will continue in the coming days.

(See: Corficolombiana cut forecast on economic growth).

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