The US dollar in Colombia broke for the first time the psychological barrier of 4,350 pesos, a reflection of wider economic trends and geopolitical tensions.
The market sold the American currency at 4,367.53 pesos, compared to the previous day. That chimes with the broad rise of the dollar.
It is on track to have its biggest month of increase in two and a half years against six major currencies. The dollar stays at three-month highs ahead of critical U.S. payrolls and inflation data.
The added layer of uncertainty involves the forthcoming presidential election in the U.S. The race between Donald Trump and Kamala Harris is expected to be very tight, going by poll results.
This political environment is affecting market behaviors and currency valuations across the globe. But the peso is not the only one to be hurtling under pressure; even the Mexican peso struggles at the rise of the dollar.
This goes to show how trends sometimes interlink the economies and their respective currency markets worldwide.
More: Colombia news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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