The price of the dollar is one of the most notorious topics in recent weeks, not only in Colombia, but throughout the world, due to the escalation that has led the currency, on the one hand, to record highs in several nations, surpassing even to the euro, and on the other because many fear a great impact on inflation.
Nevertheless, a dollar in 4,600 pesos, as seen at the beginning of last weekIt leads many to think about investing in this foreign currency, especially when just over a month ago it was 900 pesos below, which translates into a good profit margin that does not go unnoticed.
Although it sounds attractive to have such a large profit margin, in such a short time, as it is popularly said, “all that glitters is not gold” and many factors must be analyzed before investing in this currency, either to generate profits through speculation or simply buying cheap, as a way of saving.
First of all, it is worth noting that this spike in the value of the US currency was influenced by quite volatile oil, situation that added to the specter of economic recession in countries like the United States and a slow economy in the European Union, led investors to seek it, considering that for many it is a haven asset.
Although these factors influenced the price increase at that time, they were temporary and once they ceased to have an effect, the price of this coin began to fall, as is being seen today. This is why experts recommend not to get carried away by emotion and analyze well what you want to do.
For Juan David Ballén, Director of Analysis and Strategy at Casa de Bolsa SCB, Before buying or selling dollars, people should be clear about some questions such as what is the objective of the investment? What horizon are you looking for? Are you willing to take losses? And, one of the most important: what percentage of equity do dollars represent?
“The first thing in all this is that the investment objective and the risk profile must be clear. Here it is worth noting that an ideal investment portfolio usually has an exposure to assets denominated in foreign currency and people can invest there without taking so much risk, ”he explained.
This expert pointed out that when the objective to be given to the dollars is clear, it is easier to answer the question of whether it is better to buy or sell, so as not to fall into the speculative market, although it is not it is wrong, it constitutes a risk for the resources of those who invest there, without being clear about how it works.
On the other hand, for Andrés Moreno, expert and stock market analyst, The purchase of dollars can be seen with good eyes when you think in the long term, either as a form of savings to value your assets or to spend them in case of a trip abroad, taking into account that the dollar is a strong currency and It gives a lot of security for the future.
“Currency speculation is not that simple, it was easy to see recently how the currency rose by 900 pesos, but this does not always happen and surely, if favorable things begin to happen for Colombia and for emerging countries, it is possible that the dollar down”, said this analyst.
According to Moreno, “when it rises like this suddenly due to international issues or a conjunctural issue, it is worth selling them, taking into account that you risk continuing to rise, and if so, then you lost. But, in general, when they are up like this, it is best to sell, if the objective is to take advantage of the movement of the currency”.
These two experts agreed that the best thing for those who want to start in this world of investments, whether with dollars or another type of asset, is to seek advice from those who already know the market, in order to minimize risks, establishing a profile and some purposes for the money that you want to use.