The dollar in Colombia closed the week with a slight increase in its price, reaching a trading price of $4,075 on Saturday, November 18. This opening price is $40 below the Representative Market Rate (TRM) established for the weekend, which stands at $4,116 according to the Financial Superintendency’s report.
It is estimated that the dollar will reach a maximum trading price of $4,139 and a minimum of $4,051, values that had not been seen in Colombia since November 2. The upward trend is expected to continue in the coming week.
The analysis from newspaper La República suggests that the dollar’s behavior is closely tied to Colombia’s Gross Domestic Product data. The indicator fell 0.3% in the third quarter, contrary to analysts’ expectations of a 0.5% growth.
In addition, there is also speculation surrounding Gustavo Petro’s proposal to modify compliance with the Fiscal Rule. The president has suggested to the Congress of the Republic that public investment be executed and increased through non-compliance with this rule.