'Dollar today: find out how the US currency dawns this Friday - Financial Sector

The dollar reached its all-time high at the beginning of November 2022 when it reached $5,061.2.

The representative market rate in force for today is 3,980.2 pesos.

On the last business day of this week, the dollar began trading at 3,984.75 pesos in the Colombian interbank market, slightly above the representative rate of the TRM market) in force for this Friday of 3,980.2 pesos, according to the records of the electronic trading market (SET-FX) of the Colombian Stock Exchange (BVC).

(Also read: Dollar is already trading at less than 4,000 pesos and maintains its downward behavior)

In recent weeks, the US currency has maintained a downward trend, which has led it to trade below 4,000 pesos, due to the arrival of more resources to the country by investors who see confidence in the economy is recovering.

Market analysts maintain that the currency is still trading around 300 pesos above its fair value, so they see room for its price to drop a little more in the remainder of this year.

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In the first half hour of negotiations in the Colombian exchange market, the interbank dollar remains at an average of 3,979 pesos, slightly below today’s TRM.

According to Edwin Alarcón, an analyst at Credicorp Capital, we will have to pay attention in the coming days to the presentation of the government’s reforms in this second legislature of the year, and he also said that they see a new ceiling for the currency at 4,000 pesos.