The dollar closed Monday at 3,581.45 pesos in Colombia, down 6.64 pesos from the representative market rate, two weeks before the presidential runoff.
The currency recorded a low of 3,565.02 pesos and a high of 3,595 during the session, with 1,619 transactions totaling US$1.225 million. The runoff is scheduled for June 21. Current polls place Abelardo de la Espriella, a pro-market candidate, in the lead, though the outcome remains uncertain. On the previous Friday the DANE reported that May inflation rose to 5.84% from 5.68% in April. According to Mauricio Acevedo of Corficolombiana, this figure makes it harder for the central bank to cut rates, which stand at 11.25%.
