摘要：The article presents the results of a research on the effects of the exchange rate dollar/peso on profitability and liquidity for the very small and SME of garment’s sector at Cucuta City, between 2005 and 2008. This was a descriptive and correlational research based on accountancy data and financial theories show the following results: The Colombian peso was revalued against de dollar; there apparently is some liquidity supported on high inventory levels; profitability varied downward during those years. According to lineal regression between the variables, the behavior of the exchange rate only affects, on the side liquidy, productivity of the working capital; whereas on the side of profitability there two indices showing high correlation with the average dollar rate. It proposes two steps to help that sector: first to diagnose the mid-economic and finacial aspects; and create a Trade Union of very small, small and medium size entrepreneurs for this sector en Cucuta city.
关键词：Dollar average exchange rate, working capital productivity, profitability of owner’s equity, profitability of total assets, current ratio.;tasa promedio del dólar, productividad capital de trabajo, rentabilidad del patrimonio, rentabilidad del activo, razón corriente.;taxa média do dólar, produtividade capital de trabalho, rentabilidade do patrimônio, rentabilidade do ativo, razão corrente.
