USD/COP is now trading around 3,881.01, gaining a slight 0.03% daily.
The price of the Dollar in Colombia today, Thursday, March 21, opened with an initial drop to two-month lows at 3,845.01, to subsequently rebound to a high of the day at 3,892.85.
Colombian peso: Focus on the interest rate decision of the Bank of the Republic of Colombia
- Tomorrow, Friday, March 22, the Bank of the Republic of Colombia will announce its interest rates, expecting a cut of 25 or 50 basis points (bp) to 12.50% or 12.25% from the current 12.75%. In the last two meetings, the Colombian central bank has cut its rates by 25 bp consecutively.
- A rate cut in Colombia on Friday could favor the dollar against the Colombian peso in the coming days, since the US Federal Reserve (Fed) is not expected to cut rates until June.
- The Fed announced yesterday Wednesday that it was keeping its interest rates at 5.5% for the fifth consecutive meeting. Furthermore, their projections confirmed that three rate cuts of 25 basis points each are still expected through the end of 2024, as had been projected at the December meeting.
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.
