USD/COP is trading around 3,879.57 at the moment, falling a slight 0.08% daily
The price of the Dollar in Colombia today, Monday, March 18, fell to eight-week lows at 3,870.38 after opening the day touching a daily high of 3,894.13.
Colombian peso awaiting the interest rate decision of the Fed and the Bank of the Republic
- Colombia has published its trade balance data for January todayshowing a expansion of its deficit to -959.5 million of $ compared to -546 million in December. This is its worst balance in five months, specifically since August.
- The United States Federal Reserve will announce its monetary policy decision next Wednesday, March 20, which could generate volatility in the Dollar pairs. Although no moves in interest rates are expected, the Fed's dot chart is expected to give clues to the number of rate cuts expected through the end of the year.
- On Friday, March 22, the Bank of the Republic of Colombia will announce its interest rates, expecting a cut of 50 basis points to 12.25% from the current 12.75%.
- A rate cut in Colombia on Friday coupled with a reduction in the forecast of the number of Fed rate cuts until the end of the year could favor the Dollar against the Colombian Peso in the coming days.
USD/COP: 1-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
