What do the exchange offices say about how the dollar market moves in the country?

With the dollar rising recently, the main question is whether Colombians should buy the $5,000 greenback. Although this number is not yet in sight, some experts expect the coin to reach $4,600 when Ivan Duque takes power and Gustavo Petro takes office, but it will be moderate. Overall, the median forecast is around $4,200 for August .

For example, on Thursday, the dollar closed at an average of $4,369.71 which is an increase of $21.03 over the representative market price (TRM), which was $4,348.68 for the day.

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Looking at this trend, LR conducted a survey with more than 10 exchange bureaus to find out the dollar rates. Average sale value is $4,375, which is $6 more expensive compared to Friday’s current TRM ($4,369.70).

Offices selling the cheapest dollar are Latin Campos ($4,250); Drafts and Financing – Western Union ($4,290); Vancouver Changes ($4,350); Exchange Condors ($4,360) and Nutifinanzas ($4,390).

On the other hand, if you want to sell, the average purchase of dollars in these offices is $4.22. Best rates are offered by American Cash ($4,320): Unichanges ($4,280) and South Changes ($4,280).

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With regard to supply and demand in exchange offices, Martha del Pilar Martinez, CEO of Asoprocambios, explained that “it is possible that the dollar will rise due to the impact of international behavior, but the market for exchange professionals, as it is designed and designed, will move as usual, that is, due to the impact of Supply and demand. If there is a shortage of foreign exchange, the price will definitely rise.”

In addition to the domestic expectations, the international situation has led to the rise of the US currency in recent days, given the risk of a recession in the US, as well as the rise in interest rates by central banks to control inflation.

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