The dollar saw several volatile movements throughout the month of March, with a drop of up to $3,850 occurring at one point. This fluctuation was good news for savers, travelers, and investors, who benefited from better returns when exchanging the currency.
The recent economic reports from the United States have strongly influenced the behavior of the American bill. The latest consumer price index report showed a rise in inflation, causing concern among US traders who were expecting a potential interest rate cut in the first quarter of the year. However, rates remain unchanged at 5.25% – 5.50%, meaning Americans will continue to pay higher loan rates for the foreseeable future.
Analysts predict a potential rate cut could occur as early as June, with the FED indicating that at least 3 cuts in interest rates are expected by 2024, depending on how the economy performs.
As April begins, the price of the dollar in exchange offices is fluctuating. Exchange houses are buying dollars at an average price of $3,710 and selling them at $3,840. These prices may vary depending on the location and time of day.
In major cities across Colombia, exchange rates are as follows:
– Bogotá DC: $3,750 – $3,820
– Medellín: $3,590 – $3,780
– Cartagena: $3,650 – $3,850
– Cúcuta: $4,000 – $4,160
– Pereira: $3,720 – $3,830
For those looking to sell dollars, it is important to monitor price fluctuations and take advantage of the best time to make a transaction. By analyzing past prices, individuals can maximize their returns from currency exchange.