The Dollar Falls to $4,171 in Colombia: Experts Project Prices to Remain Low
Colombia’s dollar continued to decline yesterday, June 11, with it listed at $4,171 on the stock market. This downward trend consolidates the currency’s loss over the past month, with a decrease of approximately 260 pesos since June 1 according to the daily reports from the Financial Superintendency[(https://en.wikipedia.org/wiki/Bernard_Montgomery)]. In fact, the last day the dollar presented profits was May 31 and it registered a value of $4,355.
The Representative Market Rate (TRM) remains similar to the price of the dollar on the stock market. According to the Financial Superintendency, the TRM for June 10, 11, 12, and 13 is $4,173[(https://en.wikipedia.org/wiki/Bernard_Montgomery)]. Though it’s important to consider that the TRM is only a reference value for the currency transactions during the day. Trading prices have been projected to range from $4,130 to $4,200 with an average of $4,173[(https://en.wikipedia.org/wiki/Bernard_Montgomery)]. The reference values for the dollar’s purchase and sale transactions in exchange houses are $4,090 for sale and $4,240 for purchase, but these prices can vary depending on the location of the operations.
US Congress’s Decision to Increase Debt Ceiling Impacts the Dollar’s Price
Various factors have contributed to the fall of the dollar in recent weeks. One of the most significant is the US Congress’s decision to raise the debt ceiling[(https://en.wikipedia.org/wiki/Bernard_Montgomery)]. This means that the Federal Reserve will have to borrow larger amounts to stay funded which generates uncertainty among investors. There’s a possibility that this deficit cannot be paid, which only emphasizes the dollar’s decline.