He USD/COP It was quoted between 3,900 and 4,000 during the month of January. Scotiabank economists analyze the pair's outlook.
COP will depreciate a little to the USD/COP range of 4,100
A more aggressive BanRep is helping COP at the moment, but external aggressiveness from central banks could help push USD/COP towards our trading band.
We believe that the COP will be largely driven by the external environment in the short term, given the calm domestic political backdrop and the markets' comfort in the face of Colombian uncertainty. But in the coming months, we hope that BanRep will accelerate its flexibility cycle and that the markets will pay more attention to the fiscal accounts.
Therefore, we expect the COP to depreciate a little to the USD/COP 4,100 range.
USD/COP – first quarter of 2024 in 4,049, second quarter of 2024 in 4,078, third quarter of 2024 in 4.102, fourth quarter of 2024 in 4.116.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
