Dollar: how much is it falling at the beginning of this week - Financial Sector

The dollar yields pressure on inflation in the country.

The dollar gives pressure on inflation in the country.

The currency has lost more than $511 from the all-time high of $5,061.21 recorded in November

After ranking last year as one of the most undervalued currencies in the world, The Colombian peso has begun to recover ground against the dollardivide that this Monday is traded in the country at levels seen at the beginning of October 2022. Indeed, in the first two hours of the exchange day the cost of the US currency was around 4,550 pesos, more than 511 pesos below the all-time high of 5,061.21 pesos recorded on November 6.

(Also read: Pension reform: why would it harm workers with less than two minimums?)

Since the beginning of the first day of the week, the dollar has been falling and in the first operation it fell by around 62 pesos, reaching a minimum price of 4,530 pesos just a few minutes later, according to records from the Electronic Trading System (SET- FX) of the Colombian Stock Exchange (BVC).

As recalled, the representative rate of the market (TRM) for this Monday is 4,631.64 pesos.

(You may also be interested in: The biggest mergers and acquisitions deals of 2022)

According to Grupo Bancolombia analysts, the dollar it has been losing ground against other world currencies, mainly the euro.

is Colombiaagainst the peso presented a bearish behavior during the past week, ending with a closing value of 4,581.1 pesos per dollar, -2.4 percent below the closing on Friday, January 13, “this appreciation of the peso occurred in line with the movements of the dollar globally and other currencies of Latin American countries, where the Chilean peso appreciated -0.21 percent.