The price of the US Dollar has risen to daily highs of 3,909.63 against the Colombian Peso and then fell to a daily low of 3,886.15.
USD/COP is trading at 3,891.30 at the time of writing, losing 0.07% on the day.
The IMF lowers growth forecasts for Colombia in 2024
- He Yesterday, Wednesday, the International Monetary Fund reduced its growth forecasts for Colombia to 1.1% from 1.3% by 2024.
- The strength of the Dollar since the United States inflation data was published last week has only consolidated. Higher-than-expected inflation and statements by Fed Governor Jerome Powell, pointing out that rates will not be cut until price pressure relaxes more clearly, have boosted the USD against the rest of the currencies. among them the Colombian peso.
- Just two days before the release of the US CPI, on April 8, the Colombian Peso reached its highest level against the Dollar in a year and seven months around 3,740.25.
- Without relevant news for Colombia this Thursday, the focus will be on the balance of trade of the country for the month of February that will be published tomorrow, Friday. It should be noted that in January, the Colombian economy registered its largest deficit in five months.
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.
