The dollar remains in bearish territory as global weakness persists in the currency market. Recent data from the United States, including inflation, unemployment, and consumer confidence, indicate a slowdown in the economy and have kept interest rates high and unchanged, impacting American consumers.
Central banks like the Federal Reserve and the Bank of the Republic have raised interest rates to combat inflation. In the U.S., rates are at their highest level since 2001, ranging from 5.25% to 5.50%.
With the dollar losing value in 2024, transactions in dollars are more affordable, allowing exchange houses to lower prices. Investors, travelers, and savers are capitalizing on the fluctuation in the currency, anticipating a potential shift to bullish territory.
On March 27, exchange houses in Colombia are buying dollars for an average price of $3,740 and selling them at $3,850. Prices may vary depending on location and time. Major cities have different rates, with Bogotá at $3,770-$3,840, Medellín at $3,630-$3,800, Cartagena at $3,650-$3,850, Cúcuta at $4,010-$4,160, and Pereira at $3,720-$3,830.
Experts recommend comparing prices at multiple exchange houses before buying or selling currencies for the best returns. Remember to choose the exchange house with the cheapest sales price to get more dollars per peso, and the highest sales price to get more pesos per dollar.
To see values from different exchange houses, consider the rates at Vancouver Exchanges, Cambios Kapital, Unicambios, Llerascambios, and SurChanges.
For those tracking the dollar’s performance, recent prices show fluctuations. On March 27, the dollar was priced at $3,740 for purchase and $3,850 for sale. Previous days saw fluctuations with the dollar priced at $3,770-$3,880 on March 26, $3,760-$3,880 on March 25, and $3,770-$3,880 on March 24 and 23.
Overall, the global weakness of the dollar and the fluctuating market present opportunities for investors and consumers to strategize and maximize their returns in the currency exchange market.