[Economics] Worry? Prediction of the price of the dollar in Colombia for the end of the year

[Draeno]

 

One of the most discussed topics around the world in the last year has been the strong economic impact left by global situations such as the war between Russia and Ukraine and other geopolitical conflicts, and above all, the Covid-19 pandemic that began a few years ago. three years.

All this has generated a changing panorama in the economy of several countries, which have seen fiscal recovery uphill after receiving the impact of, among others, situations such as those already described.

For example, the case of Colombia generates concerns on a permanent basis and every day the economic environment is uncertain about what may happen in the future, since everything is expected, except that the horizon is a bit positive.

This is due to the constant increase in inflation that has caused the fall of the peso against the price of the US dollar. For a year now, the American currency has been in a tailspin and has reached never-before-seen peaks such as $5,000 COP, or even a little more.

How will the exchange rate of the dollar be in Colombia during 2023?
One of the big questions for Colombians is about the situation of the dollar in 2023. Some maintain optimism that the price will drop and reach more comfortable figures with respect to the peso, but reality marks a quite different situation.

In its most recent report called A Cloudy Path to Balance, Bancolombia exposes its predictions regarding the value of the dollar in the country this year, assuring that the average at the end of the calendar will be $4,716 on average. In addition, he predicted that it is possible that the dollar will be $4,625 next year and $4,599 by 2025, which means that there will be a slight drop as time goes by.

So far this year, the exchange rate has been characterized by wide volatility, but has maintained a mostly bearish trend against the dollar. This dynamic would be explained by the optimism in international markets due to the prospect of a less restrictive monetary situation than expected at the end of 2022. Meanwhile, we believe that an improvement in the perception of country risk would be possible, which would favor cash flows. foreign investment and standing for a strengthening of the peso", assured the renowned bank.

Other studies agree
This Bancolombia study contrasts with the one presented by Gustavo Petro and headed by the Ministry of Finance, called the Financial Plan for 2023, in which he assured that the dollar would close this year at a value between $4,700 and $4,800.

Other banking entities in the country have also made their predictions and the average supports the results of the two studies mentioned above. BBVA, ($4,820), Banco de Bogotá ($5,000), Citibank ($4,523), Scotiabank Colpatria ($4,750), Corficolombiana ($4,648), Davivienda ($4,850), and Itaú Colombia ($4,900), also published their prediction at the end of 2022.

 

https://www.noticiasrcn.com/economia/prediccion-del-dolar-en-colombia-para-el-final-de-2023-444064