Home » The Dollar Falls to $3,922 and Reaches $3,950 This Friday: A Look at TRM Projections for 2024

The Dollar Falls to $3,922 and Reaches $3,950 This Friday: A Look at TRM Projections for 2024

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The Dollar Falls to $3,922 and Reaches $3,950 This Friday: A Look at TRM Projections for 2024

The dollar experienced a notable drop of $27 on Friday compared to Thursday’s close, reaching $3,949. This comes after the dollar approached $4,000 earlier in the week, following a previous drop in early February. The currency eventually closed at $3,922 after averaging at $3,926 throughout the day, with a maximum of $3,950 and a minimum of $3,916. Exchange offices are currently buying dollars at an average of $3,706 and selling them at $3,826.

The United States inflation data was also announced on Friday, with minimal revisions that remained largely unchanged from 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. Federal Reserve Chair Jerome Powell and his colleagues are seeking more evidence that price pressures are receding sustainably before they begin to cut interest rates. Rapid moderation of inflation in the second half of last year has led to doubts about whether such rapid progress can be maintained.

Following the release of the results, stock futures rose. Projections for the dollar in 2024 vary among analysts, with Fedesarrollo analysts predicting the TRM to reach $4,025 by December 2024. Banco de la República estimates that the TRM will be between $3,839 and $3,939 during the year, while the Ministry of Finance projects that the year will close with one dollar at $4,317.

For the latest economic news, stay updated by visiting El Espectador.

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