At the highest prices not seen since March 2020, the price of the dollar in Colombia closed on Friday 24 June, which has been on the rise since last Tuesday after the second presidential election, mainly affected by fluctuations in oil prices and uncertainty in international markets due to the slowdown in the economy in the United States .
according to The Colombian Stock Exchange, this coin ended operations at a recent price of 4,140 pesos and 50 centsup 71.75 from the market representative rate set today by the FSA at 4,068 pesos and 75 cents.
This value recorded at the close of the day leaves the dollar with a gain of 235 pesos and 50 cents, compared to the last rate reported last Friday, June 17, and puts it in ranges not seen since 2020.
Similarly, as BVC reports, This foreign currency opened at 4099 pesos Despite the slight decline that reached the minimum at 4,083 only, the price started to rise around 8:30 am until it reached the maximum price of 4,153 pesos and 75 cents and ended with an average value of 4131.91.
This increase of more than 70 pesos in one day is undoubtedly one of the strongest increases in a week for the dollar, which will continue, according to some experts, to rise until it reaches 4200 pesos in the coming days. Currently, the highest point ever occurred on March 13, 2020, when it was 4230.
Andres Moreno, financial analyst and stock market analyst, emphasized that although the current market situation affects what happens to the dollar in the Colombian market, The negative effects that come from abroad should be taken into account, with weak oil and the US economy on the verge of contraction.
“The dollar rose strongly, May and June, especially from 3900 last week, almost 240 pesos, due to many issues, some of them international such as the drop in oil, the possibility of a recession in the United States, obviously due to factors after the election of the president that the markets do not like Too much or completely afraid of them, for obvious reasons.”
This expert added that in addition, the sense of risk has increased at the present time, Another factor will undoubtedly continue to influence until the direction the country will take in economic matters in the short and medium term is known.
Mr. President Petro, it is urgent that you announce the Ministers of Finance and Mines of your country: Experts
President-elect Gustavo Petro has yet to shed any light on the people who will be part of his government, especially in the treasury, mines and energy portfolios, which are key at this time to determine what may or may not come to Colombia in the future – in the short term, at least in matters Economic.
Although some of the names sound like Alejandro Gaviria and Ricardo Bonilla, Jose Antonio Campos, Cecilia Lopez or Rudolph Homes, so far there is no certainty as to who will fill these positions.
Petro’s behavior, for the time being, is at odds with that of his peers, such as Gabriel Borek, in Chile, who announced to his finance minister once he won, thus avoiding market uncertainty.
It is no secret that the president-elect presented several controversial proposals during his campaign, such as increasing tax collection to 50 billion pesos, Suspension of delivery of oil exploration licenses and pension reformwhich is generating pressure in the market at this time.