He Colombian peso rises for the fourth consecutive day against the US dollarestablishing its highest level since last May 2.
The USD/Cop has opened the day testing a daily maximum at 4,248.71 but it has been giving ground, falling into the opening of the American session to its Lower price in ten days, 4,219.59.
At the time of writing, the Dollar quotes against the Colombian peso about 4,230.59, losing 0.17% in what we have during the day.
The increase in inflation in Colombia drives Colombian weight
- The Colombian weight continues to be backed by the data. He Increased inflation in April to 5.16% annually, above 5% estimated, have given new wings to the currencythat maximum tests of several days per second consecutive day.
- The strengthening of the weight, which could prevent the Bank of the Republic of Colombia from lowering its interest rates in the next meeting, is weighing more at the USD/COP than the agreement announced this morning between the US and China. As the US Treasury Secretary, Scott Besent, has anticipated both countries, agreed during their meeting in Switzerland on the weekend, that tariffs on Chinese products would be reduced to 30% and those of the US to 10% for 10% for the next 90 days, counting from May 14. The news has promoted the risk appetite in the markets, and has shot the dollar against most of its counterparts, not against COP.
- He Colombian president, Gustavo Petro, began a tour of China yesterday Accompanied by eight ministers, with the intention of strengthening commercial relations with China and signing agreements with the Asian giant.
- This week, Colombia will publish several important data. On Wednesday, the March industrial production and retail sales figure will be announced. For the latter, a rise of 8.8% is expected compared to the increase of 7.5% of February. On Thursday, the turn of the Gross Domestic Product (GDP) of the first quarter will arrive, waiting for a 2.6% growth compared to 2.3% of the fourth quarter of 2024.
Economic indicator
Gross Domestic Product (Yoy)
The internal gross product (GDP), published by the Bank of the Republic of Colombiait is the broader measure of economic activity, and is a key indicator of Colombia’s economic health. The quarterly percentage changes of GDP show the growth rate of the total economy. Readings above the expected should be interpreted as positive/up for the COP, while the less expected readings should be interpreted as negative/down for the COP.
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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.
