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Fitch Solutions revised its Colombian peso forecast to COP4,100/USD by end-2023, from COP4,350 previously, citing resilient risk appetite and moderating oil prices. It expects the peso to weaken to COP4,200/USD by end-2024 as US growth slows and investment sentiment deteriorates.
A forecast of peso weakness into 2024 would raise the local cost of imported feed ingredients for Colombian buyers, though the effect on global feed prices is small.
fitchsolutions.comSep 28, 2023Not 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.
