The dollar started Monday with an average trading price above 4,000 pesos. Exactly, it was put in 4014.35 pesos. That’s 101.34 pesos above TRM for the day.
(Read: The Colombian dollar opened the week above $4,000).
It looks like this uptrend will continue throughout the week due to The electoral competition, which is approaching next June 19th. Experts agree that the dispute over the presidency is generating high economic uncertainty, causing some markets to contract.
What will happen after the elections?
The dollar, like any of the assets listed in the capital market, depends on supply and demand. For Jeisson Balaguera, Executive Director of Values AAA and Professor at EAN University, there are two possible scenarios once Presidential election results.
in case you win Gustavo Petro, “A lot of people who have a large amount of money will convert it into dollars. That money will leave the country,” he explains. This means an increase in the price of the dollar in the short term.
On the other hand, if you win Rodolfo Hernandez “The opposite will happen: the price of the dollar will go down. One way or another, this filter gives greater security. That way it was seen in the first round that its price started to fall,” says Balaguera.
(Keep reading: Who will win? Polls reveal a ‘final vote’ between Petro and Hernandez.)
Now, if the dollar continues to rise in prices, imports will also rise. However, according to the expert, in the long run, the US currency will always have an upward trend.