The price of the dollar in Colombia is on the rise at the beginning of the week of February 5 to 9, 2024, approaching the 4,000 peso barrier. The currency opened at 3,944 pesos and closed at 3,958 pesos on Monday, with highs and lows throughout the day. The maximum price recorded for the day was 3,987 pesos, and the minimum was 3,944 pesos. At the end of the trading day, the average trading price of the dollar was 3,975.98 pesos, 47.87 pesos above the Representative Market Rate (TRM) of the day, which was 3,928.11 pesos. After beginning February with losses, the US currency has had an improvement and is expected to reach a TRM above 3,970 pesos on Tuesday, February 6, which will be the highest official rate in the year.
The recent improvements of the dollar against the peso are due, according to Alejandro Guerrero, Currency Associate at Credicorp Capital, to recent positive data in the United States economy (such as the creation of more jobs) and the noise that they can generate in the market the accusations of President Gustavo Petro on social networks about alleged attacks against him.
According to experts, the behavior of the currency during 2024 will be affected by national and international factors. One of the most important will be the monetary policy of the United States Federal Reserve.
There is anticipation that the exchange rate for the end of the year is expected to be 4,317 pesos.