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The Colombian peso returned below 4,000 per US dollar on July 18, 2023, after about 13 months above that level, and has gained more than 17% against the dollar this year. The article attributes the recovery mainly to broad weakness in the dollar, along with improved investor sentiment.
A stronger peso lowers the local-currency cost of imported feed ingredients and grains for Colombian buyers, which eases pressure on domestic feed costs. Continued peso strength would reduce import costs, but a reversal in the dollar could quickly erase the gains.
ochgroup.coElkin SalazarAug 17, 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.
