The dollar in Colombia closed this Tuesday above $3,900, although it remained below this level for most of the day.
At the last minute, the foreign currency made a rebound and closed at an average price of $3,902, that is, it fell by 3 pesos compared to the TRM of the day, which was $3,905.
However, the minimum price was $3,875 and the maximum price was $3,908, according to the Colombian Stock Exchange.
The last time the dollar was below $3,900 was on Aug. 1, when it ended at $3,898, according to the Bank of the Republic’s annual history.
The behavior of the foreign currency on Tuesday was recorded against the background of market expectations for the meeting of the Federal Reserve, where the course of monetary policy will be decided.
(The dollar’s minimum price closed below $3,900).
In addition, the decline in the US currency is due to the appreciation of the Colombian peso, due to factors such as the inflow of foreign currencies for the payment of dividends from companies such as Ecopetrol and operations such as the combination of Cementos Argos with the Summit materials company, that which included the delivery of $1.2 billion.
Diego Gómez, foreign exchange specialist at Corficolombiana, says that the “gap” between the average values of Latin American currencies and the peso was once $1,100 but is now $191, which explains this trend.