Home » The Dollar Falls and Inflation Data Released: Here’s What it Means for 2024 Projections

The Dollar Falls and Inflation Data Released: Here’s What it Means for 2024 Projections

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The Dollar Falls and Inflation Data Released: Here’s What it Means for 2024 Projections

Dollar drops to $3,949 in comparison to Thursday’s close

This Friday the dollar fell $27 compared to Thursday’s close ($3,949). After a drop in early February, the dollar again approached $4,000 this week.

The currency closed at $3,922, on average it moved at $3,926. This Friday it reached a maximum of $3,950 and a minimum of $3,916.

On average, in exchange offices the purchase of dollars is $3,706 and the sale is $3,826.

The United States inflation data was announced to have minimal changes compared to the initial report. Consumer prices, excluding food and energy products, rose at an annualized rate of 3.3% in the final three months of 2023, remaining the same as the previous reading, according to data from the Bureau of Labor Statistics.

The results are expected to come as a relief to Federal Reserve Chair Jerome Powell and his colleagues as stock futures rose after the results were released.

Looking ahead, analysts predict that the dollar is expected to continue shifting in 2024. Fedesarrollo analysts predict that the TRM will be $4,025 by December 2024, while Banco de la República analysts estimate the TRM will be between $3,839 and $3,939 during the year. The Government’s Financial Plan for 2024 projects relative stability in the exchange rate, with the Ministry of Finance forecasting the year will close with one dollar at $4,317.

For the latest economic news, stay updated with El Espectador.

See also  the Central Bank devalues, fixes the official dollar at $350 and raises the rate to 118%

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