With a loss in its average value of close to 119 pesos, the price of the dollar in the Colombian interbank market ends this week, a period marked by consecutive decreases in its cost which reached an average of 3,971 pesos, according to the records of the Electronic Trading System (SET-FX) of the Colombian Stock Exchange (BVC).
This Friday’s session was no different from those of the previous days in which the US currency continued to lose ground to the peso, which has been revaluing to become the currency with the highest profit in the world with 17.5 percent in the course of this year.
Although the dollar lost on average only 9 pesos at the end of the day, going from 3,980.2 to 3,971.2 pesosduring the last session of this week the currency reached a decrease of 34 pesos with respect to the current representative market rate (TRM) of 3,980.2 pesos.
(You may also be interested in: Dollar begins the last day of the week without major variations in its price)
The maximum rate of the day, for its part, only managed to be six pesos above the same official price of this Friday, according to the source consulted.
So far this year, the dollar has lost 832 pesos against the peso, leaving the local currency with a revaluation of 17.5 percent.
The 3,971 pesos of the average price registered today have not been seen since June 21 of last year, according to market records.
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 they are recovering confidence in the economy.
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.
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.