The exchange rate fell more than $ 50 in a week. Analysts say it could go below $ 3,000.
Since February 14, the price of the dollar in Colombia has shown an important downward trend: from $ 3,150 to settle $ 3,070 (the level that was closed this Wednesday). In fact, only in the last week the currency lost more than $ 50, and many wonder how much it can fall.
Camilo Silva, analyst Valir Analitik cofounder and analyst, explains that "the falls that the dollar has presented are due to two factors: the reduction of risk around Commercial war between China and the United States, we hope that they will soon reach an agreement and that the uncertainty between the battle of these giants (which affects everyone) will end. And the other issue that affects it is the tone change Federal Reserve (EDF), because now we talk about that it could make fewer increases in its rate than initially it thought. What weakens the dollar against other currencies. "
Silva adds that "due to these circumstances, it is expected that the dollar will continue to fall, and it would not be strange to see that the exchange rate fell below $ 3,000."
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On the other hand Diego Franco, president of Grupo Franco SA, indicates that "what makes the dollar in Colombia is adjusting its deficit in December, when it reached $ 3,300. A situation that is explained by an outflow of investments and a panic that, in my opinion It has been exaggerated, but since January we know that all those who expected the worst were wrong. "
Franco also believes that "it is quite viable for the dollar to fall up to $ 3,000, or down. The exchange rate was too high and what is happening is that it is corrected to the level it should be. "
Thus, it seems reasonable to expect a little more to buy dollars, as analysts say the exchange rate You could lose another $ 70.