The price of the dollar has been marked in recent weeks by the consecutive decreases in its cost, which reached 3,971 average pesosaccording to the records of the Electronic Trading System (SET-FX) of the Colombian Stock Exchange (BVC).
This is how the week ended on Friday, July 21, and this is how it starts for the week of Monday, July 24, in which the downward trend could continue.
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Ricardo Bonilla, Minister of Finance, referred to the price of the dollar in an interview with EL TIEMPO.
Milton Diaz. TIME
The 3,971 pesos of the average price registered in the last days, have not been seen since June 21 of last year, according to market records. Conditions have not changed and expectations remain in line with what the figures have shown.
Even the Minister of Finance, Ricardo Bonilla, referred to the revaluation of the peso in the Sunday edition of EL TIEMPO.
“We are returning to the pre-pandemic condition. The markets have understood that a fiscal adjustment is being made and that despite the fact that the measures are painful and drastic, they must be taken due to current and fiscal account deficits,” he said in an interview with Yamid Amat.
Minister Bonilla pointed out that he returned to the historical path and that the country is not interested in a greater revaluation, or a mismatch or volatility of the exchange rate.
“I think we are stabilizing. The country can’t stand a revaluation,” he said.
Unless there is a sharp drop in the global economy, the United States central bank, the Federal Reserve (Fed), raises its interest rates again and if, internally, the government does not moderate its position to reduce uncertainty in the markets, What analysts are suggesting is that the US currency will remain at current levels or perhaps lower, but still in the midst of a lot of volatility.
Of course, some argue that in Colombia the US currency is still trading between 300 and 400 pesos above its fair value, with which there is room for its price to fall further.
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For now, it is trading at 3,971.38 pesos, which is the official rate that applies for this weekend and for Monday, July 24.
DIGITAL SCOPE WRITING
TIME
