The dollar has been closely monitored by experts in recent years due to the significant economic fluctuations triggered by the global crisis caused by the covid-19 pandemic. The virus, which has claimed millions of lives and disrupted millions of businesses worldwide, has had a profound impact on the economy and has led to drastic movements in the value of the dollar.
In countries that rely on imports, the value of the dollar is crucial as it is the most commonly used currency in international trade. In Colombia, for example, the fluctuation of the dollar is closely tied to the oil market, as the country exports crude oil in dollars, bringing in a significant amount of foreign currency into the economy.
As of February 28, exchange houses in Colombia are buying dollars at a price of $3,720 and selling them at approximately $3,840. These values are subject to change and may vary depending on the location and time. Major cities like Bogotá, Medellín, Cartagena, Cúcuta, and Pereira all have different purchase and sale prices for the dollar.
For those looking to buy or sell dollars, experts recommend comparing prices at multiple exchange houses to find the best deal. If buying dollars, look for the exchange house with the lowest selling price to maximize your pesos for each dollar purchased. If selling dollars, seek out the exchange house with the highest buying price to get the most pesos for each dollar sold.
For those monitoring the price of the dollar over the past six days, prices have remained relatively stable around $3,720 for purchase and $3,840 for sale. The continuing rise in the price of the dollar in Colombia reflects ongoing economic uncertainty and the impact of global events on the country’s currency market.