The Colombian exchange market continued to correct itself. And it is that despite the very slight gain that the dollar had on Friday, less than two pesos, which led it to trade on average at 4,693.68 pesos, the representative market rate (TRM) closed the week close to 296.6 pesos below that registered on Friday of the previous week, when it reached 4,989.58 pesos.
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This drop in the cost of a US currency in the local market has made the Colombian peso among the most revalued currencies in recent days, something that analysts consider a natural correction, since the peso maintains a higher deviation than other currencies. of Latinamerica.
Yesterday, for example, the lowest data from the inflation united stateswhich fell to levels of 6.5 percent, the lowest since November 2021, somewhat helped this correction in the value of the peso, but there are other elements that make the dollar start this year weaker in the world .
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The price of the dollar in Colombia reached its highest price, 4,989.58 pesos, on January 6, but since then it has been falling and although there are those in the market who believe that this trend can be consolidated going forward, others considering that given the circumstances of the local and global economy, the currency will strengthen again in the coming weeks.
«It cannot be forgotten that the central bank of United States, the Federal Reserve (Fed)raise its interest rate in the next two meetings, which, added to fears of a recession, would once again strengthen the US currency globally, increasing the appetite for safe-haven assets,» says Juan David Ballén, Director of Analysis and Strategy from the brokerage firm Casa de Bolsa.
Latin America is leading this appreciation of currencies, with Colombia at the forefront, says Felipe Campos, Manager of Economic Research at Grupo Alianza, who, when referring to the exchange issue in the country, maintains that it is very diverted from the rest of the assets and that is what international analysts are seeing about Colombia.
«The shares are the cheapest in the world, the currency is the most punished as well as the country risk, so Colombia is in a situation that is generating a lot of interest, as happened last year when there was a good flow of resources entering, but this year begins with these large deviations and that helps the country to be strong,» said the expert.
On this Friday, the dollar reached a minimum of 4,670.15 pesos at around noon, but from then on, the currency price had some recovery that took it to 4,694 pesos at the close of business. the session.
«We are talking about between 1,000 and 2,000 pesos that Colombia is diverted from currencies very similar to ours, such as the Brazilian real in the long term. There is a calm environment at the beginning of this year, but the Colombian peso is so cheap that it can have greater downward sensitivities than the rest of the currencies that were not punished, especially in Latin America and that they did not lose anything in 2022, while the peso lost 18 percent,” Campos said.
