The price of the dollar in Colombia registered a slight increase, this Tuesday, May 16, 2023, and remained above the barrier of 4,500 pesos.
(See: What was the impact of the rate hike on GDP in the first quarter?).
The currency opened the day at 4,522 pesos and was also traded at 4,521, 4,523.45, 4,527.35, 4,529.50, 4,532, 4,535 and 4,535.81 pesos.
For now, the maximum price has been 4,551.90 pesos and the minimum, 4,510.25 pesos.
(See: The Ministry’s projection of when interest rates would drop).
At the end of the day, the average trading price was 4,551.90 pesos, Four. Five.41 pesos above the Representative Market Rate (TRM) of the day, which is 4,506.49 pesos.
After a Monday when it registered a loss of more than 55 pesos and was negotiated for less than 4,500 pesos (4,482 pesos), the dollar returns to the path of increases.
Since the end of March, the currency has been very volatile, with pronounced rises and falls: its price has been reduced to less than 4,470 pesos, but it has also reached 4,700 pesos.
(See: ‘King’ dollar: his economic influence and chances of being dethroned).
Experts have explained that the minimum price that the currency can carry is 4,200 pesos.
Some factors that could impact the price curve in the short term are associated with macroeconomic scenarios, to uncertainty in internal political measures that would generate a country risk and to external situations, as new measures of the Fed or bearish values in ‘commodities’ (oil).
(See: What is the ‘blue dollar’ and why its value shakes the Argentine economy).
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