The dollar without the economic uncertainty should be at $3,681, according to an analysis by Corficolombiana, which claimed that the reforms and refusals in follow-up exploration contracts have pushed the US currency higher than the average in Latin America.
Despite the fact that the currency has experienced some decline over the past week, closing on Wednesday, June 7 at an average of $4,209, there has been a recovery in the valuation of the Colombian peso of more than 11%.
“While the dollar is currently at a low level, it could have been much lower,” the Corficolombiana report concluded.
In this sense, José Ignacio López, Director of Economic Research in Corficolombiana, stated that one of the most effective tools against high food and import prices would be to reduce the economic uncertainty caused by hydrocarbon contract announcements and to pursue less radical reforms.
“The peso should be $3,700, with no said uncertainty,” the expert said.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
