Peso Recovers Against Dollar as Market Sees Highest Fluctuations of the Year
The Colombian peso has continued to show signs of recovery against the US dollar. On September 24, the currency recorded an interbank closing price of 3,328.45 pesos, representing a gain of 64.06 pesos compared to the previous day's Representative Market Rate (TRM) of 3,264.39 pesos.
The market has been experiencing fluctuations due to various factors, including the Federal Reserve's more aggressive stance and investors adjusting their expectations. Mauricio Acevedo, a foreign exchange and derivatives strategist at Corficolombiana, noted that 'the market recorded one of the highest fluctuations of the year, with volatility of 102 pesos.'
Other experts are also weighing in on the situation. Rodrigo Lama, chief business officer of Global66, believes that investors are operating in profit-taking and repositioning mode, looking for signals about upcoming events that may impact assets.