Inspenet, April 20, 2023
In the month of April, the behavior of the dollar in Colombia has led to the Colombian peso being the currency that has appreciated the most compared to the dollar in the world.
This has had to do with various factors, both national and international, that have influenced the dollar’s depreciation worldwide.
“The Colombian peso has appreciated more than currencies have appreciated against the dollar in the world, that is, we have that effect that is a global DXY effect falling, the dollar losing ground, but we also have an effect that accompanies this fall of the dollar in the world that makes us appreciate even more than what the currencies are gaining against the North American currency”, said David Cubides research manager of Fiduciary Alliance and Securities Alliance .
According to this graph, the Colombian peso has appreciated against the dollar by 7.11% in the month of April, while if we compare it with the euro the revaluation has been 4.55% so far in the fourth month of the year .
Dollar in relation to six Latin American currencies
The following graph shows how the behavior of six of the most relevant currencies in Latin America has been.
There it can be seen that the Colombian peso is the currency that has appreciated the most, the data reflects that it has been 18.62% from May 2022 to date, the second currency was the Mexican peso with 9, 04%.
In third place was the Brazilian real with a revaluation of 5.53%, followed by the Chilean peso with an appreciation of 1.98%.
And in fifth place is the Peruvian sol with a revaluation of 0.72%.
On the contrary of this behavior is the Argentine peso that has been the most devalued currency in Latin America, according to the graph it has depreciated against the dollar by 89.32%.
Euro in relation to six Latin American currencies
Another of the currencies that has presented depreciation against the Colombian peso has been the euro.
According to the following graph, it is evident that the Colombian peso has appreciated 20.49% from May 2022 until this month, presenting the highest revaluation compared to the other currencies in Latin America.
“Although the euro has appreciated against the dollar, in the case of the Colombian peso we find that our currency has appreciated against the European currency. So perhaps, the comment is that we are experiencing these two factors, a less strong dollar in the world and additionally at the local level we are seeing a dynamic that is allowing us to appreciate”, said Cubides.
The second currency that has appreciated the most in Latin America has been the Brazilian real with 7.62%, followed by the Mexican peso with 7.31%.
In fourth place, the Peruvian sol was located with 2.73% and in fifth place was the Chilean peso with 0.47%.
As evidenced with the dollar, the Argentine peso is the currency that has devalued the most compared to the euro, reaching levels close to 100%, with 92.01%, between May 2022 and April of this year.
Source and graphics: https://www.valoraanalitik.com/2023/04/14/el-peso-colombiano-es-la-moneda-mas-revaluada-de-latinoamerica/
Photo: ShutterStock
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