The dollar closed Wednesday at $3,233.64, its lowest level since July 2019, driven by the Colombian peso's appreciation.
The US currency recorded a drop of $18.47 against the representative market rate of $3,252.11. During the session it reached a low of $3,211.55, a level not seen since July 26, 2019.
The Colombian peso has appreciated 13.44% between January and July 14, moving from $3,757.08 to $3,252.11. Experts from JP Tactical Trading noted that the current level represents an opportunity for those planning expenses or investments in dollars.
Factors behind the trend include attractive interest rates for carry trade, record remittance inflows and higher crude prices due to the Middle East conflict. Brent closed at US$85.42 per barrel.
Analysts recommend buying the currency gradually and with a medium-term view, rather than trying to predict the exact bottom.
