Loading…
Scotiabank expects the Colombian peso to depreciate modestly, with USD/COP moving toward a 4,100 range over coming quarters after trading between 3,900 and 4,000 in January. The bank says the peso will be driven mainly by the external environment near term.
It forecasts quarterly USD/COP levels rising from 4,049 in Q1-24 to 4,116 in Q4-24.
A weaker peso makes Colombian purchases of imported feed ingredients costlier in local currency, while a firmer dollar can support US-dollar-priced feed commodity exports. The effect on commodity prices is modest.
fxstreet.comFXStreet Insights TeamFeb 16, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
