The greenback continues to show a high dependence on inflationary dynamics.
The dollar closed its price on Wednesday higher, registering $3,990. This translates into an increase of $37.5 compared to Tuesday’s close, which means a change of 0.94%. The Representative Market Rate (TRM) remains at $3,957.77.
In recent days, the dollar has shown a downward trend, as it closed at around $4,055 on Monday, resulting in a loss of close to $100. Over the past few months, the greenback has fluctuated between $3,900 and $4,000.
Part of the reason for this fluctuation lies in inflation and the United States‘ response through interest rates. The most recent decision of the Federal Reserve (Fed) regarding these rates was to maintain them. It is expected that in the last meeting of the year, the board of directors will vote for a reduction, which could further favor the reduction of the dollar against the Colombian peso.
This is because, the more affordable credit is, the greater the investment opportunities in countries like Colombia. In the long run, more greenbacks circulating in the country translate into a cheaper dollar.
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