The price of the dollar began to decline on June 28

The dollar in Colombia started its first day this week with reservations, losing nearly 30 pesos, while the market remained attentive to what would happen to the country in tax matters, after various announcements by the government of Gustavo Petro reform. being prepared for this year.

According to the Columbia Stock Exchangeesta divisa comenzó el día con un valor de apertura de 4.121 pesos, ocho pesos con 98 centavos menos que la Tasa Representativa del Mercado fijada para hoy por la Superintendencia Financiera en 4.129 pesos con 87 centavos con 87 centavos, la tras du una jo una Past.

Contrary to its start last Friday, June 24, this currency recorded in its first operation a strong downtrend, declining to a minimum of 4,073 pesos, while the maximum range remained the same during the opening, above 4,121. Similarly, the average value is located at 4,086 The latest is 4,080 pesos.

in this way, The dollar has lost 56 pesos and 87 cents so far, if compared to TRM With the minimum price and more than 67 if the last price reached when the markets closed last week (4,140.50 pesos) is considered a reference, which is undoubtedly very positive for this currency in the country.

This value recorded at the close of the day, June 24, leaves the dollar with a gain of 235 pesos and 50 cents, compared to the last reported rate last Friday, June 17, and puts it in ranges not seen since. 2020.

It is noteworthy that the dollar closed last week at maximum prices that we have not seen since March 2020, amid an upward trend since the previous Tuesday, after the second round of the presidential elections, It is mainly affected by the fluctuation of oil prices Uncertainty in international markets due to slowdown in the US economy.

Andres Moreno, financial analyst and stock market, stressed that although the current market situation affects what is happening with the dollar in the Colombian market, the negative effects that come from abroad, with the weakness of oil and the US economy, must be taken into account. On the verge of stagnation.

The dollar was rising strongly in May and June, especially from 3900 in the previous weekapproximately 240 pesos, for various issues, some of them international such as the drop in oil, the possibility of a recession in the United States, and obviously, for domestic factors after the election of a president that the markets do not like him too much or do not like him enough to fear, for obvious reasons “explained Moreno .

For this week, national market expectations focus on what might happen with the Banco de la República board meeting, which will once again review whether or not to raise interest rates in the country, as a measure to counter growth. Inflation that shows no signs of stopping in the short or medium term.

What will happen to the dollar after the victory of Petro? That’s what Luis Carlos Sarmiento thinks

In an interview with Maria Isabel Rueda, Luis Carlos Sarmiento Angolo spoke of these times of uncertainty against that currency. The banker stressed that in the price of the dollar, “at this moment, the international influence is very clear.”

Sarmiento explained that the value of that currency has grown against the peso, because what is happening in the United States is not a common thing. He added that “the inflation rate is eight and a half percent, which is the highest rate in the past forty years in the United States. This is a circumstance capable of destabilizing the earth for anyone in other countries.”

“It is not impossible Because the authorities cannot allow inflation to continue to rise And they’ll have to keep raising the rate,” he said, comparing that action to car braking.

However, in his opinion the rate is already high. “The fear comes from the fact that it has reached its limit and that if they raise it further, it could have the undesirable effect of crippling the economy, and that would be a recession.”

This is what caused the market turmoil, Sarmiento explained. He added that the situation is not only affecting the exchange rate, but also the stock prices, which are at their lowest levels for a long time.

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