Price of the Dollar in Colombia today, Monday, April 8: The Colombian Peso rises to a new high since September 2022

The price of Colombian peso continues to rise for the fifth consecutive day against the US dollar. This Monday, the USD/COP has fallen to a new 1.5-year low (from September 2022) at 3,740.25.

At the time of writing, the USD/COP pair is trading around 3,763.48, losing 0.15% daily.

Colombia's inflation is slightly above expectations, strengthening the Colombian peso

  • Colombia published its inflation figures last Fridayshowing that in March the Consumer Price Index (CPI) grew by 0.7% monthly, above the 0.67% expected. At an annual level, the CPI increased by 7.36% compared to 7.74% in February, slightly worsening the 7.34% expected by the market.
  • The inflation data is taken as a reference for the actions of the Bank of the Republic of Colombia, which could stop the decrease in interest rates at its next meeting on April 30 if it considers that the CPI did not relax enough.
  • This week's focus for USD/COP will be on US inflation data for the month of March. A higher-than-expected figure could strengthen the dollar and delay the Fed's first interest rate cut, while a considerable moderation could weaken the greenback against the Colombian peso.

economic indicator

Consumer Price Index (YoY)

The Consumer Price Index (CPI) is published by the National Administrative Department of Statistics (DANE) of Colombia, measures the variation in the price of goods and services representative of family consumption. It is a way to measure changes in consumption and inflation trends. Readings above expectations could be interpreted (taking into account the potential impact on monetary policy) as positive for the Colombian peso (COP), while readings lower than expected as negative for the Colombian currency.

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Last post: Fri Apr 05, 2024 23:00

Frequency: Monthly

Current: 7.36%

Dear: 7.34%

Previous: 7.74%

Fountain:

Source: Fx Street

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