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The falling Dollar

It would appear the dollar may be reaching a new low in the near future. "The behavior of the North American foreign currency during the last weeks is attributed to the entrance of foreign capital. According to analysts devaluation may contine with further expectations of more foreign capital invested in Colombia with the sale of Ecogas and the capitalization of 20% of Ecopetrol.

Perhaps December with give us breathing room with locals purchasing dollars for trips to the U.S. over the holidays.

Any thoughts?

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La tasa que alcanzó la moneda estadounidense tras la crisis de los mercados entre mayo y junio pasado representó la segunda mayor alza desde 2003 cuando el dólar subió hasta los $2.968,88.

REDACCIÓN ECONÓMICA

Tras 20 jornadas continuas en las que la divisa norteamericana mantuvo una tendencia a la baja, ayer finalmente ésta rompió la barrera de los $2.300, quedando en valores que sólo se veían a principios del año.

Los $2.296,53 en los que terminó la sesión equivalen al mismo precio que se veía hace 7 meses, exactamente el 4 de abril, cuando la divisa se ubicaba en los $2.296,18. Desde ahí comenzó una carrera alcista como consecuencia de la crisis en los mercados y tras estabilizarse, en las últimas semanas comenzó a devaluarse nuevamente frente al peso colombiano.

En este punto, el dólar está a tan solo $50 de tocar el precio más bajo de este año, que fue el 1º de marzo cuando se ubicó en $2.245.71 y que también es el más bajo desde el 28 de enero del 2002.

El comportamiento de la divisa norteamericana durante las últimas semanas se atribuye al ingreso de capitales extranjeros por remesas e inversiones empresariales como es el caso reciente de la compra del estatal Gran Banco-Bancafé por parte de Davivienda y según analistas podría mantenerse la devaluación del dólar por las expectativas de mayores flujos de capital extranjero, que podría darse con la venta de Ecogas y la capitalización del 20% de Ecopetrol.

Comportamiento

Ayer la moneda estadounidense abrió en el mercado interbancario colombiano por debajo de los $2.300 y no volvió a recuperarse, tanto que la tasa máxima apenas fue de $2.299,45.

El dólar abrió a $2.295, es decir a $6,94 menos que la tasa representativa del mercado que regía ayer, pasó por una tasa mínima de $2.293,20 y cerró en $2.298,25, quedando de esta forma la devaluación nominal interanual del peso colombiano en 0,49%.

Cabe recordar que la moneda estadounidense venía aumentando en su cotización frente al peso hasta inicios de 2003 y luego se desplomó hasta alcanzar en el año 2004 una devaluación anual superior al 10%. En 2005 comenzó a revaluarse hasta alcanzar la más importante recuperación a mediados del presente año cuando subió hasta los $2.633.

By elk on Nov 3, 2006, 23:39 in Friendly Talkzone.

Ctg Bound says on Nov 4, 2006, 03:42:

Holidays Many overseas Colombians return to Colombia at Christmas time, who will be purchasing pesos.

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ColombianoGringo says on Nov 4, 2006, 06:32:

Ouch As if my $1,200 in plane tickets for my New Years trip to Colombia wasn't bad enough, it looks like I'm going to get killed on exchange rates.

Oh well. It's worth it!

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cali373 says on Nov 7, 2006, 10:44:

keeeeeps dropping. ÚLTIMO ( 18:22 ):
2,285.00

CAMBIO:
-15.00 M�?X:
2,300.00
CAMBIO%:
-0.65 M�?N:
2,285.00

Smile if you are a thinker!

0 funny, 0 helpful.

famsearch says on Nov 7, 2006, 10:54:

at 12:53 cst... it's at 2300 to the dollar. stop worrying like a bunch of old women, and go have fun!
dan

dan

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miamimike says on Nov 7, 2006, 12:46:

Depending on the results Of Today's Midterm US Election you may see a Bump,,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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lpdiver says on Nov 7, 2006, 13:18:

true... But in which direction?

alp

"cook some rice!"

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elchantajista says on Nov 8, 2006, 07:01:

good thing I didn't change my peso from mt last trip

anda de parranda en Bogota
"Vicente"

anda de parranda en Bogota "Vicente"

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johnarizona says on Nov 9, 2006, 15:27:

its like the stock market it doesnt matter what the price is until the day you buy/sell...and for me its going to be many moons before I can back Colombia...but hey gives me a change to drop a couple pounds, get some sun and practice espanol. Retuno ala Rico Suave...

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miamimike says on Nov 9, 2006, 21:40:

LPDiver Well You know The Midterm Election Results--LOL A Drastic change I personally can't be more happy over. Lets see if we see an Upward Bump on the Dollar over the next few months,,,,,I know here in Florida, a Large Home Insurer was asking for like a 25% rate Hike(on top of the 40% they received last year). Today, they announced they are "Volntarily" downsizing the Rate Request to 20%. LOL! They got the Message we sent 'em Tuesday loud and clear! Still too damn high but a hopeful sign of other companies to do the same. A new Era Dawning,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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utopiacowboy says on Nov 9, 2006, 21:51:

I haven't voted for a Democrat in more than 10 years but I was straight Democrat Tuesday. Ass needed to be kicked. Very proud of my former home state of Montana! You done good, boys.

Disclaimer: any comment I make is inane and is not to be taken seriously, and is so patently ridiculous that no one should take it seriously, even as an insult.

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Gator says on Nov 10, 2006, 07:06:

OK, Guys, Let's Get The Peso Drop in Perspective. If you are NOT going to make a big purchase like property or a ton of cocaine it's not really going to affect you!

If you plan on spending $2.000 USD on a trip to Colombia the difference between $2.400COP/$1 USD and $2.270 COP/$1 USD is about $22 USD. Not much, if anything to worry about.

BUT, if you planned on spending $150.000.000 COP to buy an apartmento at 2400/1 and make the purchase now you would have lost about $3.600 USD and that would hurt.

The way the US election WOULD hurt would if the DEMS ended Plan Colombia but I don't see a big effect of the USD

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

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miamimike says on Nov 10, 2006, 09:43:

Gator you may see a Shift,,, Look at the Point in time the Dollar started its drop reletive to other Floating World Currencies and it didn't involve Plan Colombia,,,

I hear you UTC,,LOL BTW that was a Shocker in Montana!

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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RJQuilla says on Nov 28, 2006, 09:37:

COP The rate is near what is was when I was there last in Sept. Long as it stays above 2200 per dollar its all good.

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